Question: Your store is interested in learning more about customers purchasing

Your store is interested in learning more about customers’ purchasing patterns and how they relate to the frequency of store visits. The probability that a customer’s visit will result in a purchase is 0.35. The probability that a customer has been to the store within the past month is 0.20. Of those who did not buy anything, 12% had been there within the past month.
a. Draw a probability tree for this situation.
b. Find the conditional probability of making a purchase given that the customer had been to the store within the past month.
c. What percent of customers are frequent shoppers, defined as making a purchase and having been to the store within the past month?



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  • CreatedNovember 11, 2015
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