The Easy Credit Company report the following table representing a breakdown of customers accounting to the...

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Basic Math

The Easy Credit Company report the following table representinga breakdown of customers accounting to the amount they owe andwhether a cash advance has been made. An auditor randomly selectsone of the accounts.
Accounts owned by Customers
Cash Advantage
Yes
No
$0 – 199.99
245
2890
$200 – 399.99
380
1,700
$400 – 599.99
500
1,425
$600 – 799.99
415
940
$800 to 999.99
260
480
$1000 or more
290
475
Total Customers
2,090
7,910
Show your work!
What is the probability that a customer received a cashadvance?
What is the probability that a customer owed less than $200and received a cash advance?
What is the probability that a customer owed less than $200or received a cash advance?
Given that the customer-owned $1000 or more, what is theprobability that the customer received a cash advance?
Are the events "receiving a cash advance" and "owning $1000 ormore" independent? Explain why or why not.

Answer & Explanation Solved by verified expert

3.8 Ratings (781 Votes)

Amounts owed by customers Cash Advance Total Yes No 019999 245 2890 3135 20039999 380 1700 2080 40059999 500 1425 1925 60079999 415 940 1355 80099999 260 480 740 1000 or more 290 475 765 Total Customers 2090 7910 10000 The joint probability table is given below Amounts owed by customers Cash Advance Total Yes No 019999 2451000000245 2890100000289 31351000003135 20039999 380100000038 170010000017 2080100000208 40059999 See Answer

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Accounts owned by Customers	Cash Advantage
	Yes	No
$0 – 199.99	245	2890
$200 – 399.99	380	1,700
$400 – 599.99	500	1,425
$600 – 799.99	415	940
$800 to 999.99	260	480
$1000 or more	290	475
Total Customers	2,090	7,910