Question

2. Anne Jones, the manager of a Starbucks store is concerned about the staffing needs and how other nearby store closings might affect foot traffic at her store. A solid understanding of the likelihood of customer arrivals is necessary before she can make further statistical inference. Historical data allow her to assume that a typical Starbucks customer averages 18 visits to a Starbucks store over a 30-day month. She wants answers for the following probabilities. a. How many visits should Anne expect in 5-day period from a typical Star bucks customer? b. What is the probability that a customer visits the chain five times in a five-day period? c. What is the probability that a customer visits the chain no more than two times in a 5-day period. d. What is the probability that a customer visits the chain at least three times in a 5 day period.

Answer 1

Answer:

The activities which add value to the national income are called economic activities. In simple language we can say that those activities which are performed for money are called economic activities and those which are not performed for monetary gains are called non-economic activities.