Alva's Flowers is creating some quick-purchase combos of cut flowers in vases for a booth at a craft fair. The designers

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Alva S Flowers Is Creating Some Quick Purchase Combos Of Cut Flowers In Vases For A Booth At A Craft Fair The Designers 1 (59.48 KiB) Viewed 85 times

Alva's Flowers is creating some quick-purchase combos of cut flowers in vases for a booth at a craft fair. The designers have two choices for vases and three choices for cut flowers. Only one type of flowers is in each vase. The options are shown in the table, along with the cost to Alva's for each option for one combo. Plastic Glass Roses $0.88 $1.45 $4.80 Vase Option 1 Vase Option 2 Flower Option 1 Flower Option 2 Flower Option 3 Carnations $3.10 Calla Lilies $5.75 In your work, make a sample space of the possible combos of a vase and flowers and determine a price for each option. Remember, a combo is ONE vase option and ONE flower option. Assuming that each option is equally likely to occur. compute the expected cost to Alva's for creating one of the combos. Round that to the nearest $0.01. What price would they charge if they want at least $3.50 profit per combo and they want the price rounded to the nearest $0.50? if they anticipate selling 250 of these combos, what total profit should Alva's make from their sale of these flower combos? Base this upon what they will actually sell the combos for and the rounded expected cost you found above