Answer:
1. P=0.502
2. P=0.348
Step-by-step explanation:
1) What is the probability that a randomly selected consumer who is 18 to 24 years old uses a Visa card for purchases?
The probability is equal to the ratio between the probability that is 18-24 and uses Visa and the probability of being 18-24.
[tex]P=\frac{P(18-24\&VC)}{P(18-24)}=\frac{0.0703}{0.14}=0.502[/tex]
2) What is the probability that a randomly selected consumer uses a Visa card for purchases given that he or she is older than 24?
Its the same analysis as the previous question but with >24yo segment.
[tex]P=\frac{P(>24\&VC)}{P(>24)}=\frac{0.2997}{1-0.14}=\frac{0.2997}{0.86}= 0.348[/tex]