Question
In: Statistics and Probability
A banking executive studying the role of trust in creating customer advocates has determined that 41...
A banking executive studying the role of trust in creating customer advocates has determined that 41 %41% of banking customers have complete trust, 47 %47% of banking customers have moderate trust, and 12 %12% have minimal or no trust in their primary financial institution. Of the banking customers that have complete trust, 66 %66% are very likely to recommend their primary financial institution; of the banking customers that have moderate trust, 16 %16% are very likely to recommend their primary financial institution; and of the banking customers that have minimal or no trust, 1 %1% are very likely to recommend their primary financial institution. Complete parts (a) and (b) below.
A. Compute the probability that if a customer indicates he or she is very likely to recommend his or her primary financial institution, the banking customer also has complete trust.
B) Compute the probability that a banking customer is very likely to recommend his or her primary financial institution.
Solutions
orchestra answered 1 year agoRelated Solutions
A banking executive studying the role of trust in creating customer advocates has determined that 41...
A banking executive studying the role of trust in creating
customer advocates has determined that 41 % of banking customers
have complete trust, 45 % of banking customers have moderate
trust, and 14 % have minimal or no trust in their primary financial
institution. Of the banking customers that have complete trust, 69
% are very likely to recommend their primary financial
institution; of the banking customers that have moderate trust, 18
% are very likely to recommend their primary...
A banking executive studying the role of trust in creating customer advocates has determined that 43...
A banking executive studying the role of trust in creating
customer advocates has determined that 43 % of banking customers
have complete trust, 47 % of banking customers have moderate trust,
and 10 % have minimal or no trust in their primary financial
institution. Of the banking customers that have complete trust, 65
% are very likely to recommend their primary financial institution;
of the banking customers that have moderate trust, 16 % are very
likely to recommend their primary...
A banking executive studying the role of trust in creating customer advocates has determined that 44...
A banking executive studying the role of trust in creating
customer advocates has determined that
44 %44%
of banking customers have complete trust,
45 %45%
of banking customers have moderate trust, and
11 %11%
have minimal or no trust in their primary financial institution.
Of the banking customers that have complete trust,
68 %68%
are very likely to recommend their primary financial
institution; of the banking customers that have moderate
trust,
22 %22%
are very likely to recommend their primary...
A banking executive studying the role of trust in creating customer advocates has determined that 43...
A banking executive studying the role of trust in creating
customer advocates has determined that 43 % of banking customers
have complete trust, 49 % of banking customers have moderate
trust, and 8% have minimal or no trust in their primary financial
institution. Of the banking customers that have complete trust,
68% are very likely to recommend their primary financial
institution; of the banking customers that have moderate trust, 21
% are very likely to recommend their primary financial
institution;...
A banking executive studying the role of trust in creating customer advocates has determined that 44% of banking customers have complete trust
A banking executive studying the role of trust in creating customer advocates has determined that 44% of banking customers have complete trust, 47% of banking customers have moderate trust, and 9% have minimal orotrust in their primary financial institution. Ofthebanking customers that hae complete trust, 69% are very likely to recommend theirprimary financial institution of the bankingcustomersthathae moderate trust, 19% are very likely to recommend their primary financial institution; and of the banking customers that have minimal or no trust,...
A banking executive studying the role of trust in creating customer advocates has determined that 44% of banking customers have complete trust
A banking executive studying the role of trust in creating customer advocates has determined that 44% of banking customers have complete trust, 45% of banking customers have moderate trust, and 11% have minimal or no trust in their primary financial institution. Of the banking customers that have complete trust, 66 % are very likely to recommend their primary financial institution; of the banking customers that have moderate trust, 24% are very likely to recommend their primary financial institution; and of...
A banking executive studying the role of trust in areating austomer advocates has determined that 42 % of banking customers have complete trust
A banking executive studying the role of trust in areating austomer advocates has determined that 42 % of banking customers have complete trust, 48% of banking oustomers have moderate trust, and 10% have minimal or no trust in their primary financial institution. Of the banking oustomers that have complete trust, 68% are very likely to recommerd their primary financial inatution, of the banking oustomers that have moderate trust, 22 % are very likely to recommend their primary financial instluion; and...
what is the role of a company's salesforce in creating value for customers and building customer...
what is the role of a company's salesforce in creating value for
customers and building customer relationships.
The commercial banking sector through its role of granting and creating credit in the money creation...
The commercial banking sector through its role of granting and
creating credit in the money creation process has a large influence
on the overall macro-economy. Specifically, their directing of
credit has a large impact on what type of transactions happen in
the economy. The majority of loans that banks grant go towards
existing assets--mainly real estate. This means that the majority
of banks' credit creation goes towards unproductive transactions or
transactions which don't increase GDP (The purchase and sale of...
The commercial banking sector through its role of granting and creating credit in the money creation...
The commercial banking sector through its role of granting and
creating credit in the money creation process has a large influence
on the overall macro-economy. Specifically, their directing of
credit has a large impact on what type of transactions happen in
the economy. The majority of loans that banks grant go towards
existing assets--mainly real estate. This means that the majority
of banks' credit creation goes towards unproductive transactions or
transactions which don't increase GDP (The purchase and sale of...
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