BuyOnLine is a large internet-based online retailer that maintains four different teams of sales representatives. The ages
Question:
BuyOnLine is a large internet-based online retailer that maintains four different teams of sales representatives. The ages of unpaid invoices from each of the four sales teams is summarized in the table below.
a. If an invoice is selected randomly from the pooled set of invoices, what is the probability that it is from sales team C?
b. What is the probability that a randomly selected invoice from the pooled set of invoices is over 180 days old?
c. If an invoice is selected randomly from the pooled set of invoices, what is the probability that is over 180 days old and from sales team C?
d. If an invoice is selected randomly from the pooled set of invoices, what sales team has the lowest probability of being associated with the invoice?
Step by Step Answer:
Mathematical Statistics For Economics And Business
ISBN: 9781461450221
2nd Edition
Authors: Ron C.Mittelhammer