Homework Help: statistics

Posted by cassandra on Thursday, June 17, 2010 at 6:50pm.

A travel agency offers 4 different vacation packages to Europe. Their net profit for package 1 is $500, for package 2 it is $750, for package 3 it is $900, and for package 4 it is $1,500. From past experience they know that 20% of their customers purchase package 1, 15% of their customers purchase package 2, 40% of their customers purchase package 3 and 25% of their customers purchase package 4. Find the expected value or average profit per customer and determine how much profit they should expect if 10 people purchase one of their European vacation packages

No one has answered this question yet.

Answer this Question

Related Questions

English - 1. I'm going to travel in Europe this summer vacation. 2. I'm ...
English - 1. I'm going to travel to Europe this summer vacation. 2. I'm ...
math - can someone write out the equations so i can solve this please. Midtown ...
Word Problem - A UPS employee, Davis, packs and labels three types of packages: ...
travel agency - hi, can anybody help me for my project...strength and weaknesses...
Algebra - A golf resort offers the following two special packages. The Par 3 ...
MATH(OM) - A UPS employee has a 9 hour shift, where he has on average 1 ...
human services - Can someone give me an example of a government agency that...
math - The smallest package weighed only 1/3 more than 1/2 the weight of the ...
Math - An upscale department offers its customers free gift wrapping on any day ...

For Further Reading

First Name:
School Subject:
Answer: