The owner of the finer diner submitted a proposal, Basic Statistics

The owner of the Finer Diner submitted a proposal to you in hopes of selling the business to you. His asking price is $250,000. Your financial institution advises that your monthly payment to finance that amount would be $1850.00. This is in addition to other business expenses you would incur such as product, payroll, etc.
Upon reviewing the accounting records from the restaurant, you discover that it grosses roughly $3000 per day on 6 out of 10 days. Determine the estimated probability that the restaurant will gross over $3000:
A) On at least 4 out of 5 business days,
B) On at least 5 out of 10 business days,
C) On at least 7 out of 10 business days.

Posted Date: 7/2/2014 1:34:00 AM | Location : United States

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