Sharon is considering trying to open a new business within the next few years, and she is doing research to determine what kind of businesses tend to be successful. so far, she has compiled two tables. the first shows the number of businesses of several types started in sharon’s city over the course of two years, and the number of those businesses which did not succeed and were forced to shut down within two years of opening. the second deals with separate records of successful new businesses, showing how much profit those new businesses turned over two years. businesses on the boundary lines fall in the lower category. type food retail financial service opened 3,193 2,280 1,898 5,045 closed 1,977 1,626 1,443 3,548 up to $25k $25-50k $50-75k $75-100k over $100k food 945 623 601 258 114 retail 813 548 347 188 63 financial 316 244 195 86 51 service 979 739 432 174 124 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 :

By using the tables as experimental data, we derived that situation involving the service establishment has a probability 5.66% points higher than the situation involving the retail establishment.

What is a service establishment?

This refers to any form of organization whose function involve personal contact with people who do not work in the office.

Based on the data, the computation gives that the situation involving the service establishment has a probability 5.66% points higher than the situation involving the retail establishment.

Therefore, the Option C is correct.

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