Help!!

Question

Help!!

17jeisaac · Answer

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divinesolar · Answer

First, find the expected number of scooters rented per month:

As the data is symmetrical, E(X) (the expected value) is the middle value. So, on average, 2.5 scooters should be taken per month.

His total costs were 5 * 3000 = $15,000

So, to break even, he needs to make $15,000.

He will be selling for 5 years, or 60 months.

As a result, he needs to make 15000/60 = $250/month

As he is selling 2.5 scooters on average, he needs to rent each for:

$250/2.5 = $100/month

17jeisaac · Answer

@DivineSolar So the answer is $100?

divinesolar · Answer

What do you think? Please read it all so you will understand :).

17jeisaac · Answer

@DivineSolar I think it is.

divinesolar · Answer

Well it is right there so yes it would be $100

17jeisaac · Answer

@DivineSolar Thanks I get it now (:

divinesolar · Answer

:).