Agent Smith
Full Member
- Joined
- Oct 18, 2023
- Messages
- 285
Ben keeps track of the number of customers who visit his shop on a given day:
The average number of customers/day who visit Ben's shop = [imath]\frac{0 \times 10 + 2 \times 10 + 3 \times 20}{10 + 10 + 20} = 2[/imath]
The mode number of customers is [imath]3[/imath] (most common number in our data).
The explanation in the book says that in the long term Ben sees around 2 customers (average/mean/expectation), but on any given day he should see around 3 customers (mode). How might these different pieces of information be useful for Ben in running his shop?
Number of customers | Number of days |
0 | 10 |
2 | 10 |
3 | 20 |
The average number of customers/day who visit Ben's shop = [imath]\frac{0 \times 10 + 2 \times 10 + 3 \times 20}{10 + 10 + 20} = 2[/imath]
The mode number of customers is [imath]3[/imath] (most common number in our data).
The explanation in the book says that in the long term Ben sees around 2 customers (average/mean/expectation), but on any given day he should see around 3 customers (mode). How might these different pieces of information be useful for Ben in running his shop?