Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Saanvi is an art student who works at an art supply store. Her manager has tasked her with analyzing sales at the store. She has

Saanvi is an art student who works at an art supply store. Her manager has tasked her with analyzing sales at the store. She has a sample of daily sales from several years' worth of sales. She finds, strangely, that there are only six different daily sales amounts in the sample. The percentage of days with each sales total are the following:

Sales Amount Percentage of days with that sales total

2000 10%

5000 25%

7000 45%

10000 15%

20000 3%

30000 2%

What is the overall average daily sales?

What is the average value of daily sales on days where sales are at least $10,000? Explain how you get this result...

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

Theories Of Value From Adam Smith To Piero Sraffa

Authors: Ajit Sinha

2nd Edition

0429807716, 9780429807718

More Books

Students also viewed these Economics questions

Question

5. How can I help others in the network achieve their goals?

Answered: 1 week ago