Final answer:
The probability that a randomly selected customer from the survey does not have credit card debt exceeding $5000 is approximately 79.17%.
Step-by-step explanation:
The student's question asks to find the probability that a randomly selected customer from a survey does not have credit card debt exceeding $5000. To solve this, we first identify the number of customers with debt less than or equal to $5000, which is the total number of surveyed customers minus those with debt over $5000:
Total customers = 1200
Customers with debt over $5000 = 250
Customers with debt less than or equal to $5000 = 1200 - 250 = 950
Next, we calculate the probability by taking the number of customers with debt less than or equal to $5000 and dividing it by the total number of surveyed customers:
Probability = Number of customers with ≤ $5000 debt / Total customers
Probability = 950 / 1200
Probability = 0.7917 (rounded to four decimal places)
Therefore, the probability of selecting a customer at random and finding that the customer does not have debt exceeding $5000 is approximately 0.7917 or 79.17%.