Joshua owns a small business selling bagels. He knows that in the last week 39 customers paid cash, 22 customers used a debit card, and 2 customers used a credit card.
If next week, he is expecting 700 customers, about how many would you expect to pay with cash? Round your answer to the nearest whole number.
To find out the number of customers who are expected to pay with cash next week, you need to calculate the proportion of customers who paid with cash this week and multiply it by the expected number of customers next week.
The proportion of customers who paid with cash this week is 39/63.
So, the proportion of customers who will pay with cash next week is also expected to be 39/63.
To find the number of customers who are expected to pay with cash next week, multiply the proportion by the expected number of customers next week:
Expected number of customers paying cash next week = (39/63) * 700.
To calculate this:
39/63 * 700 = 437.30158.
Rounding to the nearest whole number: 437
So, you would expect approximately 437 customers to pay with cash next week.