The marketing director of Ghana DASCO Electronics was interested in studying the intention of consumers to purchase
Question:
The marketing director of Ghana DASCO Electronics was interested in studying the intention of consumers to purchase new large TV set in 2020 and as a follow- up, whether they in fact actually purchased the television. Suppose that a sample of 1000 household was initially selected and the respondents were asked whether they planned to purchase a large DASCO TV. Twelve months later the same respondents were asked whether they actually purchased the television. The results are summarized in the table below
i. Draw a tree diagram to represent the information in the table.
ii. Find the probability of selecting a respondent who actually purchased a large television. Interpret your answer in a simple single sentence.
iii. Compute the marginal probability of planning to purchase a large television.
iv. Find the probability of panned purchase or actual purchase.
v. Calculate the probability that a respondent actually purchased the large television given that he or she planned to purchase.