a cereal company hopes to increase its sales by putting prizes in randomly selected boxes of its lowest…

a cereal company hopes to increase its sales by putting prizes in randomly selected boxes of its lowest - selling childrens cereal. the company claims that the probability of getting a prize is 0.75. which is the correct interpretation of this probability? this company expects to increase cereal sales by 75%. there is a guarantee of getting 3 prizes when buying 4 boxes of this type of cereal. in many, many boxes of cereal of this type, we can expect about 75% of the boxes to contain a prize. the claim of this company is correct if exactly 75 out of 100 boxes of this type of cereal contain a prize.

a cereal company hopes to increase its sales by putting prizes in randomly selected boxes of its lowest - selling childrens cereal. the company claims that the probability of getting a prize is 0.75. which is the correct interpretation of this probability? this company expects to increase cereal sales by 75%. there is a guarantee of getting 3 prizes when buying 4 boxes of this type of cereal. in many, many boxes of cereal of this type, we can expect about 75% of the boxes to contain a prize. the claim of this company is correct if exactly 75 out of 100 boxes of this type of cereal contain a prize.

Answer

Answer:

The claim of this company is correct if exactly 75 out of 100 boxes of this type of cereal contain a prize.

Explanation:

Step1: Define probability

Probability is the ratio of favorable outcomes to total outcomes.

Step2: Analyze given probability

A probability of 0.75 means 75 favorable outcomes out of 100 total outcomes in the long - run. Here, favorable outcome is a box having a prize and total outcomes are all the boxes of cereal. So, in a large number of boxes (ideally 100), we expect 75 boxes to have a prize.