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Fast Service Store Has Maintained Daily Sales Records on the Various

Question 134

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Fast Service Store has maintained daily sales records on the various size "Cool Drink" sales. Fast Service Store has maintained daily sales records on the various size  Cool Drink  sales.   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 ? 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"?

Correct Answer:

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(a)125/400 = 0.3125 (b)80/400 ...

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