It is no secret that Wall Street firms compete aggressively to lure their clients. Having more high-end clients translates into fees and revenues that turn into profits. A survey of 150 high-end clients asked what lured them to their respective Wall Street firm. The following table shows the results. High-End Client Response Perk Received Pay a Kick-Back Lucrative Golf Outings Client Response 18 42 Lavish Dinners 29 Free Private Jet Use 11 Prime Seats at Sports Events 27 Other No Perk Received 14 9 Copy Data Step 3 of 3: What proportion of clients did not receive a perk at all? Round your answer to two decimal places if necessary.

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter17: Making Decisions With Uncertainty
Section: Chapter Questions
Problem 6MC
Question
It is no secret that Wall Street firms compete aggressively to lure their clients. Having more high-end clients translates into fees and revenues that turn into profits. A
survey of 150 high-end clients asked what lured them to their respective Wall Street firm. The following table shows the results.
High-End Client Response
Perk Received
Pay a Kick-Back
Lucrative Golf Outings
Client Response
18
42
Lavish Dinners
29
Free Private Jet Use
11
Prime Seats at Sports Events
27
Other
No Perk Received
14
9
Copy Data
Step 3 of 3: What proportion of clients did not receive a perk at all? Round your answer to two decimal places if necessary.
Transcribed Image Text:It is no secret that Wall Street firms compete aggressively to lure their clients. Having more high-end clients translates into fees and revenues that turn into profits. A survey of 150 high-end clients asked what lured them to their respective Wall Street firm. The following table shows the results. High-End Client Response Perk Received Pay a Kick-Back Lucrative Golf Outings Client Response 18 42 Lavish Dinners 29 Free Private Jet Use 11 Prime Seats at Sports Events 27 Other No Perk Received 14 9 Copy Data Step 3 of 3: What proportion of clients did not receive a perk at all? Round your answer to two decimal places if necessary.
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