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

Expert Solution

orchestra answered 1 year ago
Next > < Previous

Related Solutions

A tourist center is open on weekends (Friday, Saturday, and Sunday). The owner-manager hopes to improve...
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...
The following business transactions relate to Sarah Simone for her first month of business operations in...
The following business transactions relate to Sarah Simone for her first month of business operations in January 2017. All relevant transactions include 10% GST. 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              Purchased office equipment on credit from Supplies Inc. $11000.                 9              Sent invoice to client M. Lewis for services $3300.                 11           Purchased...
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 $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 $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 would it be willing to lend the business owner? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Sarah owns Gonzalez Corporation, a Corporation. Sarah’s basis for his Gonzalez stock is $120,000. The corporation’s...
Sarah owns Gonzalez Corporation, a Corporation. Sarah’s basis for his Gonzalez stock is $120,000. The corporation’s assets are summarized below. In addition, Gonzalez Corporation owes creditors $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 Gonzalez Corporation sells the equipment for $300,000 to an unrelated purchaser. Gonzalez then liquidates paying all creditors and any outstanding tax obligations first. Assume a 34% tax rate for Gonzalez. Analyze this transaction. What...
Sarah’s Muffler Shop has one standard muffler that fits a large variety of cars. Sarah wishes...
Sarah’s Muffler Shop has one standard muffler that fits a large variety of cars. Sarah wishes to establish a reorder point system to manage inventory of this standard muffler. Use the following information to answer the questions. Annual demand 3,500 muffler Ordering cost $50 per order Standard deviation of daily demand 6 mufflers per working day Item cost $30 per muffler Annual holding cost 25% of item (muffler) value Service probability 90% Lead time 2 working days Working days 300...
Sarah (single) is a 50 percent owner in Beehive LLC (taxed as a partnership). Sarah does...
Sarah (single) is a 50 percent owner in Beehive LLC (taxed as a partnership). Sarah does not do any work for Beehive. Beehive LLC. reported $600,000 of taxable business income for the year (2020). Before considering her 50 percent business income allocation from Beehive and the self-employment tax deduction (if any), Sarah’s adjusted gross income is $150,000 (all employee salary). Answer the following questions for Sarah. What is Sarah’s net investment income tax liability (assume no investment expenses)?
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT