Question
Intro Emilia is the owner of a Persian carpet shop in Sandy City shopping centre. She also owns and operates a website, which she uses
Intro
Emilia is the owner of a Persian carpet shop in Sandy City shopping centre. She also owns and operates a website, which she uses for reaching her market and receiving orders.
She is interested the sales conversion rates for her physical store and her website. She uses video footage of her store to determine the number of potential customers that entered and looked at her merchandise during 2021, as well as website logs to determine how many visitors she had visit her website during the same period. She then tabulates the data below:
Visitors | Sales (Units) | |
Physical store | 13592 | 1092 |
Website | 35990 | 408 |
1. The sales conversion rate is equivalent to the probability of making a sale if a person visits the business. Calculate the Emilia's sales conversion rate for her physical store?
2. Each carpet Emilia sells online (on the website) contributes R1590 to her profits. Calculate the expected value of a visitor to her website.
3. Emilia knows that 600 of the 1500 carpets sold in 2021 were in the "small" category. The remainder were in the "large" category.
Are the events for this distribution mutually exclusive? Explain your answer.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started