A store selling carpet tracks the amount of square footage sold to its customers, rounding to the
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Question:
A store selling carpet tracks the amount of square footage sold to its customers, rounding to the nearest 500 sq ft. Here is the table.
| area | 500 square feet | 1000 square feet | 1500 square feet | 2000+ square feet |
| probability | 0.10 | 0.25 | 0.45 | 0.20 |
a) What is the average expected area sold (I already found this answer by doing 500(0.10) + 1000(0.25) etc but please check ifthat's right)
b) If the average cost of carpet sold is $3/sq ft, what isthe average sale price per customer (i assume we divide the answer we got from a with 3 right? not sure)
c) If a salesman completes sales to five customers one day, whatdo you expect his total sales to be?
Expert Answer:
a Average Expected Area Sold To calculate the average expected area sold we multiply each square foo... View the full answer
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