Finer Diner Proposal, determine the estimated probability that the restaurant will gross over $3000: assignment help (350-700 words)
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The owner of the Finer Diner submitted a proposal to you in hopes of selling the business to you. His asking price is $250,000. Your financial institution advises that your monthly payment to finance that amount would be $1850.00. This is in addition to other business expenses you would incur such as product, payroll, etc.
Upon reviewing the accounting records from the restaurant, you discover that it grosses roughly $3000 per day on 6 out of 10 days. Determine the estimated probability that the restaurant will gross over $3000:
- On at least 4 out of 5 business days,
- On at least 5 out of 10 business days,
- On at least 7 out of 10 business days.
Summarize your findings in a 350- to 700-word explanation in which you:
- Justify whether you would purchase the business or not.
- Identify discrete random variables that would contribute to your decision to purchase the business.
- Indicate what factors would contribute to you changing your decision.
Format your assignment consistent with APA guidelines.
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