Identify the property that is illustrated by the equation.
1 answer:
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Answer:
The probability that a randomly selected day will generate more than $6,000 in revenue is 0.325.
Step-by-step explanation:
The frequency distribution of daily revenue for an Italian restaurant in Wilmington, Delaware is:
<u>Revenue</u> <u>Frequency</u>
Under $2,000 18
$2,000 - $4,000 10
$4,000 - $6,000 26
$6,000 - $8,000 14
$8,000 - $10,000 8
Over $10,000 4
Total 80
The probability of an event <em>E</em> is defined as:
Here,
n (E) = favorable outcome
N = total outcomes
The favorable outcomes of the event <em>X</em> : "more than $6,000 in revenue" is defined as:
n (X) = 14 + 8 + 4 = 26
Total number of outcomes is, <em>N</em> = 80.
Compute the probability of the event <em>X</em> is:
Thus, the probability that a randomly selected day will generate more than $6,000 in revenue is 0.325.