You are an entrepreneur, and considering whether to open a small or a large shop
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You are an entrepreneur, and considering whether to open a small or a large shop. Both size of shops may receive either a high or a low demand. From a research you have made, you know that 74% of the shops receive high demand; and 64% of these shops are small. Also, you have found in your research that 88% of the shops which receive low demand are also small. You expect that a large shops a profit of 1486 thousand liras per year if it receives a high demand, and 68 thousand liras of profit if the demand is low. If the shop is small, the profit in high and low demand situations are 743 and 102 liras respectively. Yearly costs of large and small shops are 250,000 TL and 40,000 TL. What is the expected profit of opening a large shop? (rounding applied)
[Solved] You are an entrepreneur, and considering whether to open a small or a large shop
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- Submitted On 04 Aug, 2020 05:50:15
- Beam777
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