Question
Admission to the pumpkin patch at Gourd's Farm costs $15 per visitor and does not include a pumpkin. Pumpkins cost $3 each. The operations manager
Admission to the pumpkin patch at Gourd's Farm costs $15 per visitor and does not include a pumpkin. Pumpkins cost $3 each. The operations manager notes that 45% of people who visit the pumpkin patch purchase one pumpkin, 20% purchase two pumpkins, and 15% purchase three pumpkins.
What is the expected value for revenue for a single visitor for the pumpkin patch? Answer in dollars to the nearest cent (two decimal places).
Show your calculations in your Excel file on the sheet for this question so that the instructor can award partial marks.
What is the standard deviation for revenue for a single visitor for the pumpkin patch? Answer in dollars to the nearest cent (two decimal places).
Show your calculations in your Excel file on the sheet for this question so that the instructor can award partial marks
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