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3 . Historically, the number of sales made at a convenience store in the time period between 1 am and 5 am is 2 5
Historically, the number of sales made at a convenience store in the time period between am and am is
a What is the probability that on a randomly selected night, you would observe exactly customers?
bAssume the average purchase is $ per customer, and your only expenses are fixed costs of $ per hour and the wages of one employee at $ per hour. How many customers do you need to break even ie net profit of for that single hour period Now estimate the probability of breaking even or losing money ie net profit of for that single hour period Show your calculationsreasoning Remember that you lose money with your breakeven number of customers, not just to that number.
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