Question

In: Statistics and Probability

Dear Math Students: I recently bought a restaurant in Chicago. It is pretty small, but well-located. We are...

Dear Math Students:

I recently bought a restaurant in Chicago. It is pretty small, but well-located. We are open every day, but Mondays, from 4 PM until 11 PM. Our menu is basically Italian. We offer individual pizzas, pastas, salads, and a special of the day. We also have really good desserts. We offer cookies, ice cream and superb cakes. Last month we had 800 customers. Our salads are considered a whole meal, so people don’t usually order another entrée with them. Last month, we sold 400 pizzas, 200 pasta dishes, 130 salads, and 70 specials of the day. Not everyone orders a dessert, but last month we sold 200 cookies, 100 ice creams, and 250 cakes. Next week we are expecting 250 to 300 customers. I need to know how many of each of the entrees and how many of each of the desserts I can expect to sell.

I would also like to know how much money I can expect to make. Perhaps you could also let me know how much the average customer spends. Let me tell you the prices. The pizzas are $7.95. The pastas are sold for $8.95. The salads are $6.95. The special of the day is $9.95. As for the desserts, the cookies are $1.00, the ice cream is $1.50, and the cakes are $3.00

Thanks a lot for your help, I am not very good at math, but perhaps you could try to explain your answers in such a way that I could estimate them for myself next time.

Yours sincerely,

Chris Smith

Pizza Plus

`~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Put the results of your calculations here and the explanation of your calculations o the back of this sheet.

Estimates for 250 customers

Entree	How many	Expected revenue
Pizza
Pasta
Salad
Special
Dessert
Cookie
Ice Cream
Cake
	TOTAL	$

Average customer spends: $________________

Estimates for 300 customers

Entree	How many	Expected revenue
Pizza
Pasta
Salad
Special
Dessert
Cookie
Ice Cream
Cake
	TOTAL	$

Average customer spends: $________________

Explanation of Calculations:

Expert Solution

The whole data:

Entree	For 800 Customers	Per customer Demand	Demand for 250 Customers	Demand for 300 Customers	Rates	Expected revenue for 250 Customer	Expected return for 300 Customer
Pizza	400	0.5	125	150	7.95	993.75	1192.5
Pasta	200	0.25	63	75	8.95	563.85	671.25
Salad	130	0.1625	41	49	6.95	284.95	340.55
Special	70	0.0875	22	26	9.95	218.9	258.7
Dessert		0	0	0		0	0
Cookie	200	0.25	63	75	1	63	75
Ice Cream	100	0.125	31	38	1.5	46.5	57
Cake	250	0.3125	78	94	3	234	282

					Total Expenditure	2404.95	2877
					Average Customer Expenditure	9.6198	9.59

Calculation Explanation:

Per Customer demand was calculated by dividing the total entree and desserts by 800.

Demand for 250 and 300 customers was calculated by multiplying per customer demand by 250 and 300 respectively and then rounding the figure.

Expected return or 250 and 300 customers was calculated by multiplying rates with demand for 250 and 300 respectively.

Total Expenditure is the sum of expenditure on individual entree and deserts and the average is calculated by dividing with the no. of customers.

Please upvote if you have liked my answer, would be of great help. Thank you.

orchestra answered 1 year ago

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