Historically, the number of sales made at a convenience store in the time period between 1 am and 5 am is 20. b. Assume
Posted: Mon Jul 11, 2022 11:31 am
Historically, the number of sales made at a convenience store inthe time period between 1 am and 5 am is 20.
b. Assume the average purchase is $8 per customer, and your onlyexpenses are fixed costs of $7 per hour and the wages of oneemployee at $15 per hour. How many customers do you need to breakeven (i.e. net profit of =0 for that single 4 hour period)? Nowestimate the probability of breaking even or losing money (i.e. netprofit of <=0 for that single 4 hour period). Show yourcalculations/reasoning. Remember that you lose money with <=your break-even number of customers, not just = to that number
b. Assume the average purchase is $8 per customer, and your onlyexpenses are fixed costs of $7 per hour and the wages of oneemployee at $15 per hour. How many customers do you need to breakeven (i.e. net profit of =0 for that single 4 hour period)? Nowestimate the probability of breaking even or losing money (i.e. netprofit of <=0 for that single 4 hour period). Show yourcalculations/reasoning. Remember that you lose money with <=your break-even number of customers, not just = to that number