Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

WebAssign For Trigonometry

Authors: Ron Larson

10th Edition

1337879622, 9781337879620

More Books

Students also viewed these Mathematics questions

Question

2. The purpose of the acquisition of the information.

Answered: 1 week ago

Question

1. What is the meaning of the information we are collecting?

Answered: 1 week ago

Question

3. How much information do we need to collect?

Answered: 1 week ago