Question: A retail store launches a loyalty program. If joining the program is a random event, what does a probability of 0.8 mean? 1) The loyalty
A retail store launches a loyalty program. If joining the program is a random event, what does a probability of 0.8 mean? 1) The loyalty program only applies to customers below the age of 80. 2) There is an 80% chance that any given customer will join. 3) 80% of the store's customers are certain to join. 4) The loyalty program is 80% successful by default
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
