Question

Harvey owns a restaurant. He had 425 customers at the end of the second quarter, 455 customers at the beginning of the second quarter, and 17 new customers in the second quarter. What is his customer retention rate for the second quarter?

o o o o
90% Incorrect Correct
92% Incorrect Correct
93% Incorrect Correct
91%

Answer 1

Start with 455 customers. End with 425, of which 17 are new, so retained = 425 − 17 = 408.
Retention rate = 408 / 455 ≈ 0.8967 = 89.67%, which rounds to 90%.