A business owner conducted a survey to find out how satisfied her customers are with a new product. Out of 500 customers surveyed, 400 reported being satisfied. She wants to presen... A business owner conducted a survey to find out how satisfied her customers are with a new product. Out of 500 customers surveyed, 400 reported being satisfied. She wants to present the satisfaction rate as a percentage. What should the percentage be?
Understand the Problem
The question is asking for the calculation of a satisfaction rate percentage based on survey data. Specifically, it provides the number of satisfied customers and the total number surveyed, requiring the user to find the percentage of satisfied customers.
Answer
The satisfaction rate is $80\%$.
Answer for screen readers
The satisfaction rate is $80%$.
Steps to Solve
- Identify the given values
The total number of customers surveyed is 500 and the number of satisfied customers is 400.
- Calculate the satisfaction rate
The satisfaction rate can be calculated using the formula:
$$ \text{Satisfaction Rate} = \left( \frac{\text{Number of Satisfied Customers}}{\text{Total Number of Customers}} \right) \times 100 $$
Substituting in the numbers:
$$ \text{Satisfaction Rate} = \left( \frac{400}{500} \right) \times 100 $$
- Perform the division
First, calculate the division:
$$ \frac{400}{500} = 0.8 $$
- Convert to percentage
Now, multiply by 100 to convert the decimal to a percentage:
$$ 0.8 \times 100 = 80% $$
The satisfaction rate is $80%$.
More Information
This means that 80% of the customers expressed being satisfied with the new product. This is a significant indicator of customer satisfaction and can influence business decisions moving forward.
Tips
- Not converting to percentage: Some might forget to multiply the decimal by 100 after finding the ratio.
- Incorrectly substituting values: Ensure the number of satisfied customers and total surveyed are correctly noted.
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