The first seven ustomers of the day at a small donut shop have checks of $1.25, $2.36, $2.50, $2.I5, $4.55, $1.10, and $0.95, respetivcly. Based on thenumber of customers served each day, the manager of the shop claims that the shop needs an average check of $1.75 per pern to stay profItable. Given her contention, has the shop made a profit in serving the first seven customers?

Question

Want to see more full solutions like this?

Answer 1

Textbook Question

Chapter 3, Problem 3.48CE

The first seven ustomers of the day at a small donut shop have checks of $1.25, $2.36, $2.50, $2.I5, $4.55, $1.10, and $0.95, respetivcly. Based on thenumber of customers served each day, the manager of the shop claims that the shop needs an average check of $1.75 per pern to stay profItable. Given her contention, has the shop made a profit in serving the first seven customers?

Expert Solution & Answer

To determine

To explain whether the shop made profit or not in serving their first seven customers based on the given details.

Answer to Problem 3.48CE

Yes, shop made profit in serving first seven customers.

Explanation of Solution

Given:

The checks of first seven customers:

1.25

2.36

2.5

2.15

4.55

1.1

0.95

As per manager, shop stay in profit only when the average check per person is $1.75.

Calculation:

To know whether the shop is in profit or not, it needs to calculate the average checks per person,

Mean = ∑xin=1.25+2.36+2.5+2.15+4.55+1.1+0.957=2.12286

Since the average checks amount is $2.12286 and that is greater than $1.75. Therefore, shops made profit in serving first seven customers.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

https://www.hawkeslearning.com/Statistics/dbs2/datasets.html

NC Current Students - North Ce X | NC Canvas Login Links - North ( X Final Exam Comprehensive x Cengage Learning x WASTAT - Final Exam - STAT → C webassign.net/web/Student/Assignment-Responses/submit?dep=36055360&tags=autosave#question3659890_9 Part (b) Draw a scatter plot of the ordered pairs. N Life Expectancy Life Expectancy 80 70 600 50 40 30 20 10 Year of 1950 1970 1990 2010 Birth O Life Expectancy Part (c) 800 70 60 50 40 30 20 10 1950 1970 1990 W ALT 林 $ # 4 R J7 Year of 2010 Birth F6 4+ 80 70 60 50 40 30 20 10 Year of 1950 1970 1990 2010 Birth Life Expectancy Ox 800 70 60 50 40 30 20 10 Year of 1950 1970 1990 2010 Birth hp P.B. KA & 7 80 % 5 H A B F10 711 N M K 744 PRT SC ALT CTRL

Harvard University California Institute of Technology Massachusetts Institute of Technology Stanford University Princeton University University of Cambridge University of Oxford University of California, Berkeley Imperial College London Yale University University of California, Los Angeles University of Chicago Johns Hopkins University Cornell University ETH Zurich University of Michigan University of Toronto Columbia University University of Pennsylvania Carnegie Mellon University University of Hong Kong University College London University of Washington Duke University Northwestern University University of Tokyo Georgia Institute of Technology Pohang University of Science and Technology University of California, Santa Barbara University of British Columbia University of North Carolina at Chapel Hill University of California, San Diego University of Illinois at Urbana-Champaign National University of Singapore McGill…

Answer 2

Textbook Question

Chapter 3, Problem 3.48CE

The first seven ustomers of the day at a small donut shop have checks of $1.25, $2.36, $2.50, $2.I5, $4.55, $1.10, and $0.95, respetivcly. Based on thenumber of customers served each day, the manager of the shop claims that the shop needs an average check of $1.75 per pern to stay profItable. Given her contention, has the shop made a profit in serving the first seven customers?

Expert Solution & Answer

To determine

To explain whether the shop made profit or not in serving their first seven customers based on the given details.

Answer to Problem 3.48CE

Yes, shop made profit in serving first seven customers.

Explanation of Solution

Given:

The checks of first seven customers:

1.25

2.36

2.5

2.15

4.55

1.1

0.95

As per manager, shop stay in profit only when the average check per person is $1.75.

Calculation:

To know whether the shop is in profit or not, it needs to calculate the average checks per person,

Mean = ∑xin=1.25+2.36+2.5+2.15+4.55+1.1+0.957=2.12286

Since the average checks amount is $2.12286 and that is greater than $1.75. Therefore, shops made profit in serving first seven customers.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Textbook Question

Chapter 3, Problem 3.48CE

The first seven ustomers of the day at a small donut shop have checks of $1.25, $2.36, $2.50, $2.I5, $4.55, $1.10, and $0.95, respetivcly. Based on thenumber of customers served each day, the manager of the shop claims that the shop needs an average check of $1.75 per pern to stay profItable. Given her contention, has the shop made a profit in serving the first seven customers?

Expert Solution & Answer

To determine

To explain whether the shop made profit or not in serving their first seven customers based on the given details.

Answer to Problem 3.48CE

Yes, shop made profit in serving first seven customers.

Explanation of Solution

Given:

The checks of first seven customers:

1.25

2.36

2.5

2.15

4.55

1.1

0.95

As per manager, shop stay in profit only when the average check per person is $1.75.

Calculation:

To know whether the shop is in profit or not, it needs to calculate the average checks per person,

Mean = ∑xin=1.25+2.36+2.5+2.15+4.55+1.1+0.957=2.12286

Since the average checks amount is $2.12286 and that is greater than $1.75. Therefore, shops made profit in serving first seven customers.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Textbook Question

Chapter 3, Problem 3.48CE

The first seven ustomers of the day at a small donut shop have checks of $1.25, $2.36, $2.50, $2.I5, $4.55, $1.10, and $0.95, respetivcly. Based on thenumber of customers served each day, the manager of the shop claims that the shop needs an average check of $1.75 per pern to stay profItable. Given her contention, has the shop made a profit in serving the first seven customers?

Expert Solution & Answer

To determine

To explain whether the shop made profit or not in serving their first seven customers based on the given details.

Answer to Problem 3.48CE

Yes, shop made profit in serving first seven customers.

Explanation of Solution

Given:

The checks of first seven customers:

1.25

2.36

2.5

2.15

4.55

1.1

0.95

As per manager, shop stay in profit only when the average check per person is $1.75.

Calculation:

To know whether the shop is in profit or not, it needs to calculate the average checks per person,

Mean = ∑xin=1.25+2.36+2.5+2.15+4.55+1.1+0.957=2.12286

Since the average checks amount is $2.12286 and that is greater than $1.75. Therefore, shops made profit in serving first seven customers.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

To determine

To explain whether the shop made profit or not in serving their first seven customers based on the given details.

Answer to Problem 3.48CE

Yes, shop made profit in serving first seven customers.

Explanation of Solution

Given:

The checks of first seven customers:

1.25

2.36

2.5

2.15

4.55

1.1

0.95

As per manager, shop stay in profit only when the average check per person is $1.75.

Calculation:

To know whether the shop is in profit or not, it needs to calculate the average checks per person,

Mean = ∑xin=1.25+2.36+2.5+2.15+4.55+1.1+0.957=2.12286

Since the average checks amount is $2.12286 and that is greater than $1.75. Therefore, shops made profit in serving first seven customers.

Answer 8

Expert Solution & Answer

To determine

To explain whether the shop made profit or not in serving their first seven customers based on the given details.

Answer to Problem 3.48CE

Yes, shop made profit in serving first seven customers.

Explanation of Solution

Given:

The checks of first seven customers:

1.25

2.36

2.5

2.15

4.55

1.1

0.95

As per manager, shop stay in profit only when the average check per person is $1.75.

Calculation:

To know whether the shop is in profit or not, it needs to calculate the average checks per person,

Mean = ∑xin=1.25+2.36+2.5+2.15+4.55+1.1+0.957=2.12286

Since the average checks amount is $2.12286 and that is greater than $1.75. Therefore, shops made profit in serving first seven customers.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

To determine

To explain whether the shop made profit or not in serving their first seven customers based on the given details.

Answer 12

Answer to Problem 3.48CE

Yes, shop made profit in serving first seven customers.

Answer 13

Explanation of Solution

Given:

The checks of first seven customers:

1.25

2.36

2.5

2.15

4.55

1.1

0.95

As per manager, shop stay in profit only when the average check per person is $1.75.

Calculation:

To know whether the shop is in profit or not, it needs to calculate the average checks per person,

Mean = ∑xin=1.25+2.36+2.5+2.15+4.55+1.1+0.957=2.12286

Since the average checks amount is $2.12286 and that is greater than $1.75. Therefore, shops made profit in serving first seven customers.

Answer 14

Ch. 3.2 - Determine the mean and the median wage rate for...Ch. 3.2 - Prob. 3.2E Ch. 3.2 - Erika operates a website devoted to providing...Ch. 3.2 - A social scientist for a children’s advocacy...Ch. 3.2 - Prob. 3.5E Ch. 3.2 - The following is a list of closing prices for 15...Ch. 3.2 - Prob. 3.7E Ch. 3.2 - According to a utility company, utility plant...Ch. 3.2 - Prob. 3.9E Ch. 3.2 - An observer stands at an overpass and, for each...

Concept explainers

Videos

Answer to Problem 3.48CE

Explanation of Solution

Want to see more full solutions like this?

Chapter 3 Solutions

Additional Math Textbook Solutions