Question

A company that manufactures video cameras produces a basic model and a deluxe model. Over the past year, 45% of the cameras sold have been of the basic model. Of those buying the basic model, 43% purchase an extended warranty, whereas 50% of all deluxe purchasers do so. If you learn that a randomly selected purchaser has an extended warranty, how likely is it that he or she has a basic model? (Round your answer to four decimal places.)

Answer 1

The probability that has a basic model purchase extended warranty will be 0.1935 or 19.35%.

What is probability?

Its basic premise is that something will almost certainly happen. The percentage of favorable events to the total number of occurrences.

A company that manufactures video cameras produces a basic model and a deluxe model.

Over the past year, 45% of the cameras sold have been of the basic model.

Of those buying the basic model, 43% purchase an extended warranty, whereas 50% of all deluxe purchasers do so.

If you learn that a randomly selected purchaser has an extended warranty.

Then the probability that has a basic model purchase extended warranty will be

P = 0.45 × 0.43

P = 0.1935

P = 19.35%

More about the probability link is given below.

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