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Solve the following completely. 1. A bookstore found out that 23% of their customers buy a book, 34% of their customers buy two books, 39%
Solve the following completely. 1. A bookstore found out that 23% of their customers buy a book, 34% of their customers buy two books, 39% buy three books, and 4% buy four books. What is the average number of books the customers buy in that bookstore? 2. Mario is planning a raffle draw for the benefit of an organization that takes care of street children. He is thinking of selling 1000 tickets. The winner of the rafe draw will win Php 10,000. How much should the price of the ticket be so that Mario earns a profit of five pesos per ticket? 3. A company is deciding where to place a restaurant that they are planning to build. They can build it on a center of a business district so they can charge higher but needs to compete with more restaurants nearby. They can also build it in front of a school where they have to charge less but they have less to compete with. The company analyzed how those considerations will affect earning and they have presented their finding using a probability distribution. Probability distribution of building the restaurant in a business district. Profit X 1 000 000 -2 000 000 P00 .80 .20 Probability distribution of buildin the restaurant in front of a school Profit (X) 500 000 -2 000 000 P(X) .95 .05 Based on the probability distributions, where should they build the restaurant
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