Question

An auto dealership wants to know the average amount of money its customers can spend on a car. The dealership surveys 50 random customers and finds that 25 shoppers can spend $10,000 or less, 15 can spend $10,001 to $25,000, and 10 can spend more than $25,000. If 1000 customers visit the dealership this coming weekend, the dealership can estimate that _____ of its customers will have a budget greater than $25,000.

Enter your answer as a number, like this: 42

Answer 1

Hi I would have to say 350

Answer 2

200

Explanation:

Given:The dealership surveys 50 random customers and finds that 25 shoppers can spend $10,000 or less, 15 can spend $10,001 to $25,000, and 10 can spend more than $25,000.

To Find: If 1000 customers visit the dealership this coming weekend, the number of customers having budget greater than $25000.

Solution:

Total Number of surveyed customers=
`50`

The Number of customers that can spend
`\$`
`10000`=
`25`

The Number of customers that can spend
`\$`
`10001` to
`\$`
`25000`=
`15`

The Number of customers that can spend more than
`\$`
`25000`=
`10`

Percentage of people that can spend more than
`\$`
`25000` = Number of customers that can spend more than
`\$`
`25000`
`\setminus` Total Surveyed Customers

`\left ( 10\setminus 50 \right )* 100`=
`20`%

If
`1000` customers visits the dealership,

customer that have budget greater than [
`\$`
`25000`= total visiting customers
`*` percentage of people that can spend more than
`\$`
`25000`

`1000* 20\setminus 100`

`200`

Hence the customers that having budget greater than
`\$`
`25000` will be
`200`