corporation is selecting where to develop a restaurant with a capital of Php 3,000,000. They can put it in the center of a business district to raise prices, but it will have to compete with other restaurants in the area. They could even establish it in front of a school, where they would have to charge less sincethey would be competing with fewer restaurants.The company analyzed the considerations and data shows that building a restaurant in a commercial district has an 65%chance of earning Php 2million and a 35% chance of losing the entire capital, whereas building a restaurant in front of a school has a 97% chance of earning Php 800 thousand and a 3% chance of losing the entire capital. Where should the corporation establish the restaurant based on the predicted profit

corporation is selecting where to develop a restaurant with a capital of Php 3,000,000. They can put it in the center of a business district to raise prices, but it will have to compete with other restaurants in the area. They could even establish it in front of a school, where they would have to charge less sincethey would be competing with fewer restaurants.The company analyzed the considerations and data shows that building a restaurant in a commercial district has an 65%chance of earning Php 2million and a 35% chance of losing the entire capital, whereas building a restaurant in front of a school has a 97% chance of earning Php 800 thousand and a 3% chance of losing the entire capital. Where should the corporation establish the restaurant based on the predicted profit

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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