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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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    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 ...

    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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