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ProbabilityQ&A LibraryTwo motels are up for sale. The following two tables give the number of rooms rented per day together with the associated probabilities (P). Motel 1Number of rooms5678910P0.060.110.330.230.20.07 Motel 2Number of rooms34567P0.050.060.110.230.55The average profit per room rented at the first motel is $28 and the average profit per room rented at the second motel is $37. Which motel will yield the higher daily profit?Motel 1 or Motel 2Question

Asked Oct 6, 2019

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Two motels are up for sale. The following two tables give the number of rooms rented per day together with the associated probabilities (*P*).

Motel 1 | ||||||

Number of rooms | 5 | 6 | 7 | 8 | 9 | 10 |

P |
0.06 | 0.11 | 0.33 | 0.23 | 0.2 | 0.07 |

Motel 2 | |||||

Number of rooms | 3 | 4 | 5 | 6 | 7 |

P |
0.05 | 0.06 | 0.11 | 0.23 | 0.55 |

The average profit per room rented at the first motel is $28 and the average profit per room rented at the second motel is $37. Which motel will yield the higher daily profit?

Motel 1 or Motel 2

Step 1

The average profit per room rented at the first motel is $28.

The average profit per room rented at the second motel is $37.

From the information, it is observ...

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