A large operator of timeshare complexes requires anyone interested in making a p

Question

A large operator of timeshare complexes requires anyone interested in making a purchase to first visit the site of interest. Historical data indicates that 20% of all potential purchasers select a day visit, 50% choose a one-night visit, and 30% opt for a two-night visit. In addition, 30% of day visitors ultimately make a purchase, 20% of one-night visitors buy a unit, and 50% of those visiting for two nights decide to buy. Suppose a visitor is randomly selected and is found to have made a purchase. How likely is it that this person made a day visit? (Round your answer to three decimal places.) How likely is it that this person made a one-night visit? (Round your answer to three decimal places.) How likely is it that this person made a two-night visit? (Round your answer to three decimal places.)
A large operator of timeshare complexes requires anyone interested in making a purchase to first visit the site of interest. Historical data indicates that 20% of all potential purchasers select a day visit, 50% choose a one-night visit, and 30% opt for a two-night visit. In addition, 30% of day visitors ultimately make a purchase, 20% of one-night visitors buy a unit, and 50% of those visiting for two nights decide to buy. Suppose a visitor is randomly selected and is found to have made a purchase. How likely is it that this person made a day visit? (Round your answer to three decimal places.) How likely is it that this person made a one-night visit? (Round your answer to three decimal places.) How likely is it that this person made a two-night visit? (Round your answer to three decimal places.)
A large operator of timeshare complexes requires anyone interested in making a purchase to first visit the site of interest. Historical data indicates that 20% of all potential purchasers select a day visit, 50% choose a one-night visit, and 30% opt for a two-night visit. In addition, 30% of day visitors ultimately make a purchase, 20% of one-night visitors buy a unit, and 50% of those visiting for two nights decide to buy. Suppose a visitor is randomly selected and is found to have made a purchase. How likely is it that this person made a day visit? (Round your answer to three decimal places.) How likely is it that this person made a one-night visit? (Round your answer to three decimal places.) How likely is it that this person made a two-night visit? (Round your answer to three decimal places.)

Explanation / Answer

P( Day/Purchase) = 0.20*0.30/[0.20*0.30+0.50*0.20+0.30*0.50]=0.1935

P( one night/purchase = 0.50*0.20/[0.20*0.30+0.50*0.20+0.30*0.50]=0.3225

P( two night/purchase) = 0.30*0.50/[0.20*0.30+0.50*0.20+0.30*0.50]]=0.4838

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.