Question

What is the probability that a randomly selected individual is more likely to buy a product emphasized as​ "Made in our​ country," given the individual is at least 55 years of​ age?

Answer 1

Answer:

The probability that a person with at least 55 years is more likely to buy the product will be 31.12%

Step-by-step explanation:

The exercise gives a condition which decreases the table to particular rows. The condition is "more likely" to buy a product, we will only work with the row with the label is "more likely". Therefore, the denominator of our equation will be 1301.

The exercise asks for the probability that a person with at least 55 years given the condition. So, we have:

Probability = (405/1301) x100 = 31.12%

Answer 2

Answer:

0.727

Step-by-step explanation:

The probability of an event can be estimated by taking the ratio of the number of times the events occur and the total number of possible outcomes. In the problem, the condition given is that the person is at least 55 years of age. Considering the column for 55+, the total number of people in the age bracket is 557 and 405 people are more likely to purchase the product. Thus, the probability is: 405/557 = 0.727.