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Returned Checks at a Business

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Issue: Returned checks at a business.

12% are returned for insufficient funds. 50% of this 12% the customer received cash back. 10% of all customers ask to receive cash back at the end of a purchase.

For 1000 customer visits calculate the following:

a) Insufficient funds?
b) Cash back?
c) Both insufficient funds and cash back?
d) Either insufficient funds or cash back?
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How to input this into MegaStat, and/or Excel Analysis? Or break out the process to arrive at an answer (as little Latin as possible).

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Solution Summary

This solution involves calculations for insufficient funds and cash back in Excel.

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