Question

AVX Home Entertainment Inc recently began a "no-hassles" return policy. A sample of 505 customers who recently returned items showed 320 thought the policy was fair, 150 thought it took too long to complete the transaction, and the rest had no opinion. On the basis of this information, make an inference about customer reaction to the new policy. (Round your answers to 1 decimal place.)

Customer reaction Percent
Fair %
Too long %
No opinion %

Answer 1

`Fair = 63.4\%`

`Too\ Long = 29.7\%`

`No\ Opinion =6.9\%`

Explanation:

Given

`Total=505` --- customers

`Fair = 320`

`Too\ Long = 150`

Required

Complete the table

To complete the table, we simply divide each value by the total number of customers.

So, we have:

`Fair = 320`

`Fair = (320)/(505)`

`Fair = 0.634`

Express as percentage

`Fair = 0.634*100\%`

`Fair = 63.4\%`

`Too\ Long = 150`

`Too\ Long = (150)/(505)`

`Too\ Long = 0.297`

Express as percentage

`Too\ Long = 0.297*100\%`

`Too\ Long = 29.7\%`

For the last set, the percentage is calculated using:

`No\ Opinion + Fair + Too\ Long = 100\%`

So, we have:

`No\ Opinion + 63.4\% + 29.7\% = 100\%`

`No\ Opinion + 93.1\% = 100\%`

Collect like terms

`No\ Opinion =- 93.1\% + 100\%`

`No\ Opinion =6.9\%`