Probability of increasing both sales and customers

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Reference no: EM131804098

Your firm is planning a new style of advertising and figures that the probability of increasing the number of customers is 0.63, while the probability of increasing sales is 0.55. The probability of increasing sales given an increase in the number of customers is 0.651.

a. Draw a probability tree for this situation.

b. Find the probability of increasing both sales and customers.

c. If sales increase, what is the probability that the number of customers increases?

d. If sales do not increase, what is the probability that the number of customers increases?

e. Find the probability that neither customers nor sales increase

Reference no: EM131804098

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