Casho owns a small business selling ice-cream. She knows that in the last week 24 customers paid cash, 14 customers used a debit card, and 23 customers used a credit card.If next week, she is expecting 300 customers, about how many would you expect to pay with cash? Round your answer to the nearest whole number.Answer:
Q. Casho owns a small business selling ice-cream. She knows that in the last week 24 customers paid cash, 14 customers used a debit card, and 23 customers used a credit card.If next week, she is expecting 300 customers, about how many would you expect to pay with cash? Round your answer to the nearest whole number.Answer:
Calculate Total Customers: Determine the total number of customers from last week and the proportion that paid with cash.Customers who paid with cash last week: 24Customers who used a debit card last week: 14Customers who used a credit card last week: 23Total number of customers from last week: 24+14+23=61
Calculate Probability: Calculate the probability that a customer will pay with cash based on last week's data.Probability (Paying with cash) = Total number of customersNumber of customers who paid with cashProbability (Paying with cash) = 6124
Estimate Customers Next Week: Use the probability to estimate the number of customers who will pay with cash next week.Expected number of customers paying with cash = Probability (Paying with cash) × Total expected customers next weekExpected number of customers paying with cash =(6124)×300
Perform Calculation: Perform the calculation to find the expected number of customers paying with cash. Expected number of customers paying with cash ≈(6124)×300≈118.03
Round to Nearest Whole Number: Round the answer to the nearest whole number as the question asks for an estimate.Expected number of customers paying with cash ≈118 (rounded to the nearest whole number)