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Fast Service Store Has Maintained Daily Sales Records on the Various

question 109

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Fast Service Store has maintained daily sales records on the various size "Cool Drink" sales. Fast Service Store has maintained daily sales records on the various size  Cool Drink  sales.   Assuming that past performance is a good indicator of future sales, (a)What is the probability of a customer purchasing a $1.00  Cool Drink?  (b)What is the probability of a customer purchasing a $1.25  Cool Drink?  (c)What is the probability of a customer purchasing a  Cool Drink  that costs greater than or equal to $1.00? (d)What is the expected value of a  Cool Drink ? (e)What is the variance of a  Cool Drink ? Assuming that past performance is a good indicator of future sales,
(a)What is the probability of a customer purchasing a $1.00 "Cool Drink?"
(b)What is the probability of a customer purchasing a $1.25 "Cool Drink?"
(c)What is the probability of a customer purchasing a "Cool Drink" that costs greater than or equal to $1.00?
(d)What is the expected value of a "Cool Drink"?
(e)What is the variance of a "Cool Drink"?


Definitions:

Commission

A commission refers to a fee paid to an agent or employee for facilitating a sale or completing a service, often calculated as a percentage of the sale price.

Commodities

Basic goods used in commerce that are interchangeable with other goods of the same type.

Commission-Only

Describes a compensation structure where an employee or agent is paid solely based on the commission from the sales they generate.

Commission

A service charge assessed by a broker or agent for facilitating a transaction, typically a percentage of the transaction's total value.

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