Find expected profit per customer if buy packages

Assignment Help Basic Statistics

Reference no: EM13136032

A travel agency offers 4 different vacation packages to Europe. Their net profit for package 1 is $500, for package 2 it is $750, for package 3 it is $900, and for package 4 it is $1,500. From past experience they know that 20% of their customers purchase package 1, 15% of their customers purchase package 2, 40% of their customers purchase package 3 and 25% of their customers purchase package 4. Find the expected value or average profit per customer and determine how much profit they should expect if 10 people purchase one of their European vacation packages.

Reference no: EM13136032

Questions Cloud

Amount of loss-distribution of property : At the time of the liquidation, the property had a FMV of $80,000. What amount of loss can be recognized by Cooper on the distribution of property?

Are stockholders better off : if a company declares a 2 for 1 stock split when its stock was trading for $40 just prior to the announcement and it has 2 million shares outstanding, what will the theoretical market price of the stock be just after the stock split? Are stockhold..

Specific domestic security challenges : Evaluate specific domestic security challenges for the 21st Century that face the United States and other industrialized nations. Please give me the "specific security challenges."

What is your cash balance at end of the quarter : You also pay an interest payment of $30 and a tax bill of $180. In addition, you borrow $75. What is your cash balance at the end of the quarter?

Find expected profit per customer if buy packages : Find the expected value or average profit per customer and determine how much profit they should expect if 10 people purchase one of their European vacation packages.

Determine the contribution margin per direct labor-hour : The Bird Toy Company manufactures a line of dolls and a doll dress sewing kit. Demand for the dolls is increasing, and management requests assistance from you in determining an economical sales and production mix for the coming year.

Calculate the molar concentration of cl- : A 325-mL sample of solution contains 25.3 g of CaCl2, which is fully dissolved. (a) Calculate the molar concentration of Cl- in this solution. (b) How many grams of Cl- are in 0.100 L of this solution?

Posting for diplopedia.on website wikileaks : 1.In 2010, The website Wikileaks posted more than 250,000 U.S diplomatic Cables, what are the potential implications of this posting for Diplopedia.

You are to develop some : For this next section you are to develop some creative suggestions how the company might deal with the marketing mix for this product and market in the future. The template for this section of the assessment enables different types of media to be inc..

User Account

All Pages