× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
Home Q & A Board Other Fields Homework Help Business Management
New Topic  
chimeric chimeric
wrote...
Posts: 669
Rep: 0 0
6 years ago
Fast Service Store has maintained daily sales records on the various size "Cool Drink" sales.

"Cool Drink" Price   Number Sold
$0.50   75
$0.75   120
$1.00   125
$1.25   80
Total   400

Assuming that past performance is a good indicator of future sales,
(a) What is the probability of a customer purchasing a $1.00 "Cool Drink?"
(b) What is the probability of a customer purchasing a $1.25 "Cool Drink?"
(c) What is the probability of a customer purchasing a "Cool Drink" that costs greater than or equal to $1.00?
(d) What is the expected value of a "Cool Drink"?
(e) What is the variance of a "Cool Drink"?
Textbook 
Quantitative Analysis for Management

Quantitative Analysis for Management


Edition: 12th
Authors:
Read 37 times
1 Reply

Related Topics

Replies
wrote...
#1
6 years ago
(a) 125/400 = 0.3125 (b) 80/400 = 0.20 (c) 205/400 = 0.5125
(d) .5(.1875) + .75(.3) + 1(.3125) + 1.25(.2) = .88125 (e) 0.064
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  707 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 180
  
 212
  
 241
Your Opinion
What's your favorite funny biology word?
Votes: 328
Previous poll results: Which country would you like to visit for its food?