A furniture store is having a sale on sofas and you're going to buy one. The advertisers know that buyers get to the store and that 1 out of 3 buyers change to a more expensive sofa than the one in the sale advertisement. Let X be the cost of the sofa. What is the average cost of a sofa if the advertised sofa is $150 and the more expensive sofa is $450?

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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A furniture store is having a sale on sofas and you're going to buy one. The advertisers know that buyers get to the store and that 1 out of 3 buyers change to a more expensive sofa than the one in the sale advertisement. Let X be the cost of the sofa. What is the average cost of a sofa if the advertised sofa is $150 and the more expensive sofa is $450?

Expert Solution
Step 1

Given:

Total number of buyers = 3

Expensive sofa buyers = 1

Number of buyers = 3-1 = 2

Cost of advertised sofa = 150

Cost of more expensive sofa = 450

 

 

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