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Asked: 2024-09-07T10:46:40+00:00 In:

Which of the following is the best interpretation of the probability of 0. 68?

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Poll Results

0%In driving a car, the events of driving over the speed limit and getting a speed ticket are ( 0 voters )
0%Opinion pulling organizations contact the respondents by sampling random telephone numbers. Assume that interviewers cannot reach about 71% of US households, while the percentage of those contacted who agreed to cooperate with the survey is 31%. Each household, it can be safely assumed, is independent of the others. What is the probability of failing to contact the household or of contacting the household but not getting them to agree to the interview? ( 0 voters )
0%A friend of yours plans to toss a fair coin 200 times. You watch the first 20 tosses and are surprise that she got 15 heads. But then you get bored and leave. How many heads do you expect her to have when she is finished all 200 tosses? ( 0 voters )
100%A store owner reports that the probability that a customer who purchases a lawn mower will also purchase an extended warranty is 0.68. ( 3 voters )
Based On 3 Votes

Which one is correct?

Which of the following provides the most accurate explanation of what a probability of 0.68 means in the context of customer behavior? Specifically, this probability refers to the likelihood that a customer who has already purchased a lawn mower will also choose to buy an extended warranty.

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1 Answer

  1. kenny

    The last option is correct.

    Details:
    The probability of 0.68 means there’s a 68% chance that a customer who buys a lawn mower will also buy an extended warranty. This is a conditional probability, which means that out of customers who have already bought a lawn mower, around 68 out of every 100 will also get the warranty. It doesn’t mean every customer will buy the warranty, but it shows how likely it is based on what previous customers have done.