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Chapter 2: Q. 2.9 (page 48)

A retail establishment accepts either the American Express or the VISA credit card. A total of 24 percent of its customers carry an American Express card, 61 percent carry a VISA card, and 11 percent carry both cards. What percentage of its customers carry a credit card that

the establishment will accept?

Short Answer

Expert verified

The percentage of customers carrying a credit card that the establishment will accept is74%.

Step by step solution

01

Step 1. Given information.

It is given that,

Probability of customers carrying an American Express card P(A)=0.24

Probability of customers carrying a VISA Express card P(B)=0.61

Probability of customers carrying both cards P(A鈭�B)=0.11

02

Step 2. Find the percentage of customers carrying a credit card that the establishment will accept.

The percentage of customers carrying a credit card that the establishment will accept is =A鈭�B

P(A鈭�B)=PA+PB-PA鈭�B=0.24+0.61-0.11=0.74

Therefore, the percentage of customers carrying a credit card that the establishment will accept is74%.

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