Question
In: Statistics and Probability
Sarah is the owner of Sarah’s Pub, and her best business is on Friday and Saturday...
Sarah is the owner of Sarah’s Pub, and her best business is on Friday and Saturday nights when customers buy plenty of alcoholic beverages (alcohol). After studying a large sample of receipts from Friday and Saturday nights, Sarah knows the following. 73% of her orders on these nights involve at least one alcohol sale. 23% of her customers order only alcohol, 28% have dinner plates, and the rest have sandwiches. Of those who order dinner plates, 60% order alcohol; and of those who order sandwiches, 89% order alcohol. Sarah still has questions, as do I.
1. (5 points) What is the probability that a randomly selected customer orders a sandwich?
Type the answer and any work below. Write one sentence interpreting the result.
2. (5 points) What is the probability a randomly selected customer ordered alcohol and a
sandwich? Type the answer and any work below. Write one sentence
interpreting the result.
3. (5 points) What is the probability a randomly selected customer ordered alcohol or a
sandwich? Type the answer and any work below. Write one sentence
interpreting the result.
4. (5 points) What is the probability a randomly selected orders alcohol and a dinner plate? Type
the answer and any work below. Write one sentence interpreting the result.
5. (5 points) Are orders for alcohol and orders for dinner plates independent events? Type the
answer and any work below. You must report two probabilities and explain your
reasoning to receive credit for this answer.
Solutions
orchestra answered 1 year agoRelated Solutions
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A tourist center is open on weekends (Friday, Saturday, and
Sunday). The owner-manager hopes to improve scheduling of part-time
employees by determining seasonal relatives for each of these days.
Data on recent traffic at the center have been tabulated and are
shown in the following table:
Week
1
2
3
4
5
6
Friday
143
153
150
151
155
163
Saturday
251
258
263
265
271
279
Sunday
162
165
173
172
180
183
a.
Develop seasonal relatives...
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her first month of business operations in January 2017. All
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2017
January
1
Commenced business operations with a $300 000 cash injection of
personal funds.
2
Paid monthly rent $1650.
4
Purchased office stationery $2200 on credit from WorksOffice.
7
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Purchased...
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A small business owner visits her bank to ask for a loan. The
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A small business owner visits her bank to ask for a loan. The owner states that...
A small business owner visits her bank to ask for a loan. The
owner states that she can repay a loan at $900 per month for the
next two years and then $1,800 per month for three years after
that. If the bank is charging customers 8.5 percent APR, how much
would it be willing to lend the business owner? (Round your answer
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A small business owner visits her bank to ask for a loan. The owner states that...
A small business owner visits her bank to ask for a loan. The
owner states that she can repay a loan at $900 per month for the
next two years and then $1,800 per month for three years after
that. If the bank is charging customers 8.5 percent APR, how much
would it be willing to lend the business owner? (Round your answer
to two decimal places.)
A small business owner visits her bank to ask for a loan. The owner states that...
A small business owner
visits her bank to ask for a loan. The owner states that she can
repay a loan at $2,300 per month for the next three years and then
$4,600 per month for two years after that. If the bank is charging
customers 8.25 percent APR, how much would it be willing to lend
the business owner?
A small business owner visits her bank to ask for a loan. The owner states that...
A small business owner visits her bank to ask for a loan. The
owner states that she can repay a loan at $1,300 per month for the
next three years and then $2,600 per month for two years after
that. If the bank is charging customers 8.25 percent APR, how much
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Sarah owns Gonzalez Corporation, a Corporation. Sarah’s basis for his Gonzalez stock is $120,000. The corporation’s...
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$80,000
Assets
Adjusted Basis
Fair Market Values
Cash
$90,000
$90,000
Cain Corporation Stock
100,000
225,000
Other Equipment
140,000
300,000
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Ordering cost
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Standard deviation of daily demand
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Item cost
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Annual holding cost
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Working days
300...
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What is Sarah’s net investment income tax liability (assume no
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