Interpreting joint probability
Your company tracks customer purchases and categorizes them into low, medium, and high spenders, as well as short, medium, and long visit durations. The following probabilities are observed:
| Visit duration | Low Spender | Medium Spender | High Spender | All spenders |
|---|---|---|---|---|
| All durations | 38% | 49% | 20% | 100% |
| Short | 18% | 12% | 7% | 37% |
| Medium | 14% | 22% | 9% | 45% |
| Long | 6% | 15% | 4% | 25% |
What is the joint probability that a randomly selected customer is a medium spender and has a long visit duration?
This exercise is part of the course
Advanced Probability: Uncertainty in Data
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