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Chances of the next sale being more than the mean

In the video, you saw how to calculate the probability of the next order in the online retail sales dataset being for a specific product type.

In this exercise, you will determine the chances of the next order being worth more than the mean order value, which is $188.50.

You will need to identify the number of orders generating Total Net Sales more than or equal to the mean, and divide this value by a count of all orders.

The app has a table containing definitions and values for the measures you require to calculate this probability. Use the input fields to enter the correct values, which will produce the probability as a percentage. Use this output to select an appropriate answer from the options provided.

This exercise is part of the course

Introduction to Statistics

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