Westonci.ca is the premier destination for reliable answers to your questions, provided by a community of experts. Join our platform to connect with experts ready to provide accurate answers to your questions in various fields. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.
Sagot :
First, find the expected number of scooters rented per month:
As the data is symmetrical, E(X) (the expected value) is the middle value. So, on average, 2.5 scooters should be taken per month.
His total costs were 5 * 3000 = $15,000
So, to break even, he needs to make $15,000.
He will be selling for 5 years, or 60 months.
As a result, he needs to make 15000/60 = $250/month
As he is selling 2.5 scooters on average, he needs to rent each for:
$250/2.5 = $100/month
As the data is symmetrical, E(X) (the expected value) is the middle value. So, on average, 2.5 scooters should be taken per month.
His total costs were 5 * 3000 = $15,000
So, to break even, he needs to make $15,000.
He will be selling for 5 years, or 60 months.
As a result, he needs to make 15000/60 = $250/month
As he is selling 2.5 scooters on average, he needs to rent each for:
$250/2.5 = $100/month
[tex]the\ expected\ value:\ \ \ E[X] = x_1p_1 + x_2p_2 + \dotsb + x_kp_k \\\\ E[X] =0\cdot \frac{1}{32} +1\cdot \frac{5}{32} +2\cdot \frac{10}{32} +3\cdot \frac{10}{32}+4\cdot \frac{5}{32}+5\cdot \frac{1}{32}= \frac{80}{32} =2.5\\\\5\ motor\ scooters\ \ \rightarrow\ \ \ 5\cdot \$3.000=\$15.000\\\\5\ years=5\cdot 12\ months=60\ months\\\\2.5\ motors\ monthly\ \ \rightarrow\ \ 2.5\cdot60=150\ motors\ at\ 5\ years\\\\[/tex]
[tex]x\ \ \rightarrow\ \ the\ price\ per\ month\ (to\ break\ even)\\\\150\cdot x=\$15.000\ \ \ \Rightarrow\ \ \ x= \$100\\\\Ans.\ \ \$100[/tex]
[tex]x\ \ \rightarrow\ \ the\ price\ per\ month\ (to\ break\ even)\\\\150\cdot x=\$15.000\ \ \ \Rightarrow\ \ \ x= \$100\\\\Ans.\ \ \$100[/tex]
Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.