n a certain part of Makati, street parking is charged a flat rate of 70 php per day. However, if you park your car in front of a pop-up restaurant, you either pay nothing or 250 php per day when they are open. Answer the following: If there is a 60% chance of the pop-up restaurant opening, and you decide always to park in front of the pop-up restaurant, will you expect to spend more or less in comparison to when you park in any other street parking in the long run? Also, How much is the difference of parking fee on the average?

n a certain part of Makati, street parking is charged a flat rate of 70 php per day. However, if you park your car in front of a pop-up restaurant, you either pay nothing or 250 php per day when they are open. Answer the following: If there is a 60% chance of the pop-up restaurant opening, and you decide always to park in front of the pop-up restaurant, will you expect to spend more or less in comparison to when you park in any other street parking in the long run? Also, How much is the difference of parking fee on the average?

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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