Essay on Life Is A School Of Probability

806 Words 4 Pages
Walter Bagehot once said “Life is a school of Probability.” (Bagehot, n.d.). In this scenario a phone survey was conducted on one hundred and fifty consumers and information was obtained about the consumers themselves and their shopping habits. From this data, one hopes to show the probability of a randomly selected consumer spending at least $15 per shopping trip. Then looking at those that spent that amount, which of the three malls offered the highest quality of goods. Lastly, given the previous variables how the probabilities relate back to a gender.
Spends at Least $15 In the first scenario, the numbers will be calculated to see what they probability of a randomly selected consumer will spend at least $15 during a shopping trip to each of the three malls in the Springdale area. Coming in with the most consumers who said they would be spend at least $15 per shopping trip, are those that frequent the Springdale Mall. Springdale Mall had twenty-four percent, whereas Downtown came in second with twenty-one percent and West Mall with fifteen percent of the consumers surveyed. However, looking at just those that said they would spend at least $15 could be skewed, as other consumers may be willing to spend more than the $15-25 range that was studied. The sum of all category responses totaled 796 for Springdale Mall, 855 for Downtown, and 843 for West Mall. Thus, furthering the thought that consumers may be willing to spend more money at other locations than the…

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