Question

Select the correct answer from the drop-down menu.

A bank randomly surveyed 50 of its customers by mail to find out how customers use its mobile banking service. The survey found that only 11 of the 50 customers used the service.

If the branch has 1,700 customers, about __ customers use the mobile banking service

Answer 1

If the branch has 1,700 customers, about 374 customers use the mobile banking service. Thus, the correct answer is option A.

To estimate the number of customers using the mobile banking service in the entire branch, you can set up a proportion based on the surveyed sample:

`\(\frac{\text{Customers using mobile banking}}{\text{Surveyed customers}} = \frac{\text{Total customers using mobile banking}}{\text{Total customers}}\)`

Let x be the total customers using mobile banking. The proportion is:

`\((11)/(50) = (x)/(1700)\)`

Now, solve for x:

`\[x = (11)/(50) * 1700\]`

x = 374

Therefore, approximately 374 customers use the mobile banking service in the entire branch. Option A is correct.

The complete question is:

Select the correct answer from the drop-down menu.

A bank randomly surveyed 50 of its customers by mail to find out how customers use its mobile banking service. The survey found that only 11 of the 50 customers used the service.

If the branch has 1,700 customers, about __ customers use the mobile banking service.

Options of the drop-down menu are:
a. 374
b. 663
c. 1074