Question

The market research department at a manufacturing plant determines that 40% of the people who purchase the plant's product during any month will not purchase it the next month. On the other hand, 20% of the people who do not purchase the product during any month will purchase it the next month. In a population of 1000 people, 200 people purchased the product this month. How many will purchase the product next month and in 2 months

Answer 1

250 people will purchase the product next month

312 people will purchase the product in 2 month

Explanation:

Total Population = 1000

People who purchased plant's product= 200

People who did not purchase = 800

Next month:

= 200 * (60%) + 800 * (20%)

= 200 * 60/100 + 800 * 20/100

= 120 + 160

= 280 people

Thus, 250 people will purchase the product next month

In 2 month:

= 280 * (60%) + 720 * (20%)

= 280 * 60/100 + 720 * 20/100

= 168 + 144

= 312 people

Thus, 312 people will purchase the product in 2 month