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Probability: Bay's Theorem

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4. Seventy percent of all Big Burger chain stores decided to advertise in their local newspapers. Of those chain stores that advertised in their local newspapers, 60% had an increase in sales. Of those chain stores that did not advertise in their local newspapers, 25% had an increase in sales.

a. What is the probability that a randomly selected store has an increase in sales.

b. What is the probability that a randomly selected store with an increase in sales advertised in its local newspaper?

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Solution Summary

The solution provides step by step method for the calculation of probability using bays theorem. Formula for the calculation and Interpretations of the results are also included.

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Probability
4. Seventy percent of all Big Burger chain stores decided to advertise in their local newspapers. Of those chain stores that advertised in their local newspapers, 60% had an increase in sales. Of those chain stores that did not advertise in ...

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