Using the tables as experimental data, determine whether it is more likely for a new retail establishment to succeed and earn profits of $50,000 or more, or whether it is more likely for a new service establishment to succeed and earn profits of $25,000 or less, and how much more likely the one situation is than the other. express all probabilities as percentages to two decimal places, and express differences by number of percentage points (for example, 23% is 5 percentage points greater than 18%). a. the situation involving the retail establishment has a probability 0.99 percentage points higher than the situation involving the service establishment. b. the situation involving the retail establishment has a probability 4.91 percentage points higher than the situation involving the service establishment. c. the situation involving the service establishment has a probability 5.66 percentage points higher than the situation involving the retail establishment. d. the situation involving the service establishment has a probability 6.35 percentage points higher than the situation involving the retail establishment.

Respuesta :

The probability for the establishment to succeed and earn profits of $50,000 or more or not is option C.

What is Probability?

This refers to the area of mathematics that has to do with the possibility of an event occurring.

Hence, we need to find the probability of the establishment succeeding and earning profits of $50,000 or more, or whether it is more likely for a new service establishment to succeed and earn profits of $25,000 or less is:

  • C. The situation involving the service establishment has a probability 3.11 percentage points higher than the situation involving the retail establishment

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