Preliminary data: Confectionery "cupcake problem"; the data on recent 25 days are given the below table. Number of Days Number of sold cupcakes (frequency) 1 2 3 3 4 5 6 Total number of 25 days: The cupcakes demanded during the day are sold for 15 euros/piece, but in the evening it is possible to sell all cupcakes produced and unsold during the day for 1 euro/piece. The cost to produce one cupcake is 7.70 euro/piece Random numbers for the next 5 days are: 65; 93; 14;46; 31 TASK: Use Preliminary data, prices, costs, random numbers for the next 5 days and calculate What is the total profit for 5 days if the company produces only 5 cupcakes per day? 8 6
Preliminary data: Confectionery "cupcake problem"; the data on recent 25 days are given the below table. Number of Days Number of sold cupcakes (frequency) 1 2 3 3 4 5 6 Total number of 25 days: The cupcakes demanded during the day are sold for 15 euros/piece, but in the evening it is possible to sell all cupcakes produced and unsold during the day for 1 euro/piece. The cost to produce one cupcake is 7.70 euro/piece Random numbers for the next 5 days are: 65; 93; 14;46; 31 TASK: Use Preliminary data, prices, costs, random numbers for the next 5 days and calculate What is the total profit for 5 days if the company produces only 5 cupcakes per day? 8 6
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Preliminary data: Confectionery "cupcake problem"; the data on recent 25 days are given the below table.
Number of
Days
Number of sold
cupcakes
(frequency)
0
1
2
3
4
6
Total number of
2
25
days:
The cupcakes demanded during the day are sold for 15 euros/piece; but in the evening it is possible to sell all cupcakes produced and unsold during the
day for 1 euro/piece.
The cost to produce one cupcake is 7.70 euro / piece
Random numbers for the next 5 days are: 65; 93; 14;46; 31
TASK: Use Preliminary data, prices, costs, random numbers for the next 5 days and calculate. What is the total profit for 5 days if the company
produces only 5 cupcakes per day?
Note: Revenues from sales during the day and in the evening and production costs are taken into account when the profit is computed.
Format: x
12454
5
-N3103N
2
8
6](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1709d919-43f4-41ea-b74d-7b04178d80d8%2F23599b28-2303-430f-929b-7ea98d6511cb%2Ftr2phl8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Preliminary data: Confectionery "cupcake problem"; the data on recent 25 days are given the below table.
Number of
Days
Number of sold
cupcakes
(frequency)
0
1
2
3
4
6
Total number of
2
25
days:
The cupcakes demanded during the day are sold for 15 euros/piece; but in the evening it is possible to sell all cupcakes produced and unsold during the
day for 1 euro/piece.
The cost to produce one cupcake is 7.70 euro / piece
Random numbers for the next 5 days are: 65; 93; 14;46; 31
TASK: Use Preliminary data, prices, costs, random numbers for the next 5 days and calculate. What is the total profit for 5 days if the company
produces only 5 cupcakes per day?
Note: Revenues from sales during the day and in the evening and production costs are taken into account when the profit is computed.
Format: x
12454
5
-N3103N
2
8
6
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