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The retention rate of a particular brand of engine oil in 2013 is 87%. If 6,000,000 customers purchased the brand in 2012, how many of these customers purchased the same brand in 2013?
Suggested Answer: C
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33 comments · newest first
CL
Clement
10 months ago
I thought it would be lower, but 87% is impressive!
GE
Gearldine
10 months ago
Totally agree, that's the right calculation!
KA
Kayleigh
10 months ago
87% retention means 5,220,000 customers bought it again.
JE
Jerrod
10 months ago
Just did the math, and yeah, 5,220,000 checks out!
AI
Aide
10 months ago
Wait, how can they have such a high retention rate? Sounds fishy.
MA
Marci
11 months ago
I think the answer should be around 5.2 million, but I can't remember the exact calculation steps.
BE
Bernadine
11 months ago
I feel like I might be overthinking this. Is it just straightforward multiplication, or do we need to consider anything else?
LI
Lindsey
11 months ago
I remember a similar question where we had to find a percentage of a total. I think multiplying by 0.87 should give us the answer.
GE
German
11 months ago
I think we need to calculate 87% of 6,000,000, but I'm not entirely sure how to do that quickly.
JA
Jackie
12 months ago
I'm not totally sure about this, but I think the retention rate is the percentage of 2012 customers who came back in 2013. So I'll multiply 6,000,000 by 0.87 to find the number of returning customers.
AN
Annmarie
12 months ago
No need to overthink this. The retention rate is the key piece of information here. Just plug that into the formula and you'll get the answer.
LA
Lauran
12 months ago
Wait, I'm a bit confused. Is the retention rate the same as the percentage of customers who purchased the same brand in 2013? Or do I need to do some other calculation?
SA
Sage
1 year ago
This seems straightforward enough. I'll just multiply 6,000,000 by 0.87 to get the number of customers in 2013.
AN
Antonette
1 year ago
Okay, let's think this through step-by-step. The question gives us the retention rate of 87% and the number of customers in 2012. To find the number of customers in 2013, we need to take 87% of the 2012 customers.
VI
Vivan
1 year ago
Alright, let's put on our thinking caps and solve this like engineers. *cracks knuckles* Time to crunch some numbers.
SE
Serina
1 year ago
Haha, this is like a game of 'Guess the Number' but with engine oil. I'm feeling lucky, let's go with E - 5,291,100!
SH
Shalon
1 year ago
B is my pick - 5,177,000!
JO
Joaquin
1 year ago
I think I'll choose C - 5,220,000!
TA
Tamra
1 year ago
D could be a sneaky choice - 5,250,679!
JU
Justine
1 year ago
I believe the answer is A) 5,100,000, as it makes the most sense based on the retention rate given.
LE
Leonard
1 year ago
Ooh, this is a tricky one. I'm gonna go with D - 5,250,679. Just a gut feeling, you know?
RO
Rochell
1 year ago
I think it might be A - 5,100,000. Seems like a reasonable estimate.
EN
Enola
1 year ago
I'm not sure, but I think the answer might be C) 5,220,000.
LU
Luther
1 year ago
I agree with Junita, because 87% of 6,000,000 is 5,100,000.
TA
Tamra
1 year ago
Wait, wait, wait. Didn't they say the retention rate was 87%? Shouldn't the answer be a bit higher than 5,100,000? *scratches head*
GA
Gail
1 year ago
B) 5,177,000
LE
Leota
1 year ago
A) 5,100,000
JU
Junita
1 year ago
I think the answer is A) 5,100,000.
RO
Rodolfo
1 year ago
Hmm, this seems straightforward. I'm going with option A - 5,100,000. That's gotta be the right answer, right?
BI
Billye
1 year ago
User1: I think you're right, option A - 5,100,000, makes sense.
CY
Cyndy
1 year ago
Alright, let's think this through. If the retention rate is 87%, that means 87% of the 6,000,000 customers purchased the same brand in 2013. Time to break out the calculator!
LE
Leah
1 year ago
B) 5,177,000
FR
Freeman
1 year ago
A) 5,100,000