Suppose you are selling kites on the boardwalk at the New Jersey shore as your summer job. Every fourth person who passes you selects a kite at random and buys it. Half of your kites sell for $8, and the other half sell for $4. If 100 people per hour pass by, what is your expected revenue for six hours work?

Answer rating: 100% (QA)

Expected price of an kites sold is Ep 054 ... View the full answer