5.81 A hamburger stand sells hamburgers for $1.45 each. Daily sales have a distribution with a mean...

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5.81 A hamburger stand sells hamburgers for $1.45 each.

Daily sales have a distribution with a mean of 530 and a standard deviation of 69.

a. Find the mean daily total revenues from the sale of hamburgers.

b. Find the standard deviation of total revenues from the sale of hamburgers.

c. Daily costs (in dollars) are given by C = 100 + 0.95X where X is the number of hamburgers sold. Find the mean and standard deviation of daily profits from sales

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Statistics For Business And Economics

ISBN: 9780273767060

8th Global Edition

Authors: Paul Newbold, Mr William Carlson, Ms Betty Thorne

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Question Posted: Sep 24, 2024 02:02 AM

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5.81 A hamburger stand sells hamburgers for $1.45 each. Daily sales have a distribution with a mean...

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Statistics For Business And Economics

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