Online Marketing Statistics
Statistics questions please help?
Max Sandlin studied the characteristics of stock market investors. He noted that sixty percent of all investors have a net worth exceeding $ 1,000,000, 20% of all investors use a brokerage firm online, and 10% of all investors have a net worth exceeding $ 1,000,000 and use of online brokerage. An investor is selected at random, what is the probability that the investor's net worth exceeds $ 1 million if it is known that the investor uses an online brokerage firm?
It is a conditional probability. Let I = If an investor has a net worth of more than 1,000,000 Let O = If an investor uses a brokerage firm online We are given that P (I) = 0.60, P (O) = 0.20 P (I & O) = .10, we want to find: P (I given O) The formula of probability conditional is: P (A given B) = P (A and B) / P (B) In this issue: P (I & O) / P (O) then P (I given O) = 0.10 / 0.20 = 0.5 You can find more probabiliy suspended, as well as other examples, the link below.
Internet Marketing Statistics
