3. Ryan owns a music store.He wants to know his customer retention rate? Round to the nearest a. Customers at the end of Q4: 275 b . Customers at the beginning of Q4: 260 c.New customers in Q4:30 d . Customer retention rate: __

To calculate the customer retention rate, we need to use the following formula:<br /><br />Customer Retention Rate = (Number of customers at the end of the period - Number of new customers during the period) / Number of customers at the beginning of the period<br /><br />Given information:<br />a. Customers at the end of Q4: 275<br />b. Customers at the beginning of Q4: 260<br />c. New customers in Q4: 30<br /><br />Step 1: Calculate the number of customers at the end of Q4 who were not new customers.<br />Number of customers at the end of Q4 who were not new customers = 275 - 30 = 245<br /><br />Step 2: Calculate the customer retention rate.<br />Customer Retention Rate = (Number of customers at the end of the period - Number of new customers during the period) / Number of customers at the beginning of the period<br />Customer Retention Rate = (245 - 0) / 260<br />Customer Retention Rate = 0.9423 or 94.23%<br /><br />Therefore, the customer retention rate is 94.23%.