Explain what is the expected number of hot dogs sold

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Reference no: EM1374271

Use the subsequent scenario to answer the next five questions. As a way of fund educating you decide to set up a hot dog stand after a few weeks of doing this you sell eight hot dogs every ten minutes.

What is the likelihood you will sell three or less hot dogs in ten minutes?

If you need to sell more than three hot dogs in ten minutes to breakeven, what is the possibility that you will break even in the next ten minutes?

Explain what is the expected number of hot dogs sold in one minute?

Explain what is the expected number in three minutes?

Explain what is the probability of selling exactly three hot dogs in three minutes?

Reference no: EM1374271

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