Probability that consumer purchased few products

Reference no: EM1318559

Q1) In February 2002 Argentine peso lost 70% of its value compared to United States dollar. This devaluation severely raised price of imported products. According to survey conducted by AC Nielsen in April 2002, 68% of consumers in Argentina were purchasing fewer products than before devaluation, 24% were purchasing same number of products, and 8% were purchasing more products. Furthermore, in trend toward purchasing less-expensive brands, 88% pointed out that they had changed brands they purchased. Assume the following complete set of results were reported. Use following data to answer questions 9 through 12.

	Number of Products Purchased
Brands Purchased	Fewer	Same	More	Total
Same	10	14	24	48
Changed	262	82	8	352
Total	272	96	32	400

i) Determine the probability that consumer chosen at random bought fewer products than before and changed brands?

ii) Given that consumer changed te brands, what is the probability that consumer purchased fewer products than before?

Reference no: EM1318559

Questions Cloud

Creating organizational structure for new company : You have been tasked with creating an organizational structure for a new company that manufactures office equipment such as copiers, fax machines, and printers. The company plans to market the products domestically and internationally.

Finding test of hypothesis on each of regression coefficient : Carry out a test of hypothesis on each of regression coefficients. Could you delete any of the variables?

Effects of insufficient inventory : Discuss an instance where you have (as a consumer or an employee) experienced the effects of insufficient inventory.

Manage finance growth : Find an article about a rapidly growing company that talks specifically about how they manage(d) to finance their growth. Include a link to the article and a summary in your own words.

Probability that consumer purchased few products : Given that consumer changed te brands, what is the probability that consumer purchased fewer products than before?

Calculate the between-treatments : To find out the estimate of between and within treatments.Samples were selected from 3 populations. The data obtained follow.

Precedence relations between the activities : Create a list of the activities required to complete the home design. Next, identify the precedence relations between the activities, and how much uncertainty exists in each activity.

Completing the anova table : Complete the ANOVA table. Carry out a test of hypothesis on each of regression coefficients. Could you delete any of the variables?

Accessing i/o device : Consider a program which is accessing a single I/O device and compare the un-buffered I/O for the use of a buffer.

User Account

All Pages