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Michael owns a small business selling ice-cream. He knows that in the last week 20 customers paid cash, 44 customers used a debit card, and 4 customers used a credit card.
If next week, he is expecting 1700 customers, about how many would you expect to pay with a credit card? Round your answer to the nearest whole number.
Answer:

Michael owns a small business selling ice-cream. He knows that in the last week $20$ customers paid cash, $44$ customers used a debit card, and $4$ customers used a credit card. $\newline$ If next week, he is expecting $1700$ customers, about how many would you expect to pay with a credit card? Round your answer to the nearest whole number. $\newline$ Answer:

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Full solution

Q. Michael owns a small business selling ice-cream. He knows that in the last week

20

customers paid cash,

44

customers used a debit card, and

4

customers used a credit card.

\newline

If next week, he is expecting

1700

customers, about how many would you expect to pay with a credit card? Round your answer to the nearest whole number.

\newline

Answer:

Calculate Total Customers: Determine the total number of customers from last week and the proportion that paid with a credit card. $\newline$ Customers who paid cash: $20$ $\newline$ Customers who used a debit card: $44$ $\newline$ Customers who used a credit card: $4$ $\newline$ Total number of customers last week: $20 + 44 + 4 = 68$ $\newline$ Proportion of customers who used a credit card: $\frac{4}{68}$
Calculate Probability: Calculate the probability of a customer paying with a credit card based on last week's data. $\newline$ Probability (Paying with credit card) = Number of customers who used a credit card / Total number of customers $\newline$ Probability (Paying with credit card) = $\frac{4}{68}$ $\newline$ Probability (Paying with credit card) $\approx 0.0588$ (rounded to four decimal places)
Estimate Next Week: Use the probability to estimate the number of customers who will pay with a credit card next week. $\newline$ Expected number of customers paying with a credit card $=$ Probability (Paying with credit card) $\times$ Total expected customers next week $\newline$ Expected number of customers paying with a credit card $\approx$ $0.0588 \times 1700$ $\newline$ Expected number of customers paying with a credit card $\approx$ $99.96$
Round Expected Number: Round the expected number of customers to the nearest whole number, as you cannot have a fraction of a customer. $\newline$ Rounded expected number of customers paying with a credit card = $100$ (rounded from $99.96$ )

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