Question

if a shopkeeper earns Rs. 400 at a day when its weekend and Rs. 300 when its a working day. What should be his earnings expectation if the probability of it being a weekend today is 0.6 ?

Answer 1

Step-by-step explanation:

Mark price=400+

100

80×400

=400+320=720

(2) Discount %=15%

=15×

100

720

=108

sp=720−108=612

(3) Total profit=sp−cp=612−400=212

Profit =

400

212

×100=53%.

Answer 2

Given Data: weekend Rs.400, Weekday Rs.300, Probability of weekend= 0.6.

To Find: earnings expectation.

Solution:

• Probability is where an event is likely to occur or not.
• For example, A Coin is tossed where it can land as Head or Tail. The Probability of getting a Head is $\frac{1}{2}$.
• By using the formula $E = W$ × $P$, we can Calculate the earning expectation.
• Where as E = Expectation , W = Weekend, P = Probability.

            $E = 400$ × $0.6$  ; $E=240$.

• Hence the shopkeeper's earning expectation if the probability of it being a weekend today is 0.6 = 240.