Question

I have 2 questions in one, so i need 2 answers therefor i am doubling the points for this

Answer 1

The average number of scooters expected to be rented out this month is 2.5

He should rent the scooters for $100 per month

Explanation:

2.5 is between the medians 2 and 3

Each scooter costs $3,000. There are 5 scooters so the total cost is 3,000 x 5 = 15,000

Break even is 0 profit. Since he rents out 2.5 scooters each month, 2.5 x price is the money he makes. Then minus the $15,000 he pays for the scooters originally

2.5P-15,000=0

Solve for price(P)

2.5P=15,000

P=15,000/2.5

P=6000

So he should rent at $6000 per month, but we have to calculate over 5 years. There are 12 x 5=60 months in 5 years so $6000/60=price per month.

6000/60=100

$100 per month

Answer 2

Picture one: 2.5

Picture two:$50

Explanation:

Picture one: Two and three have the most probability of being sold so you add them and get 5 then divide by 2 and get 2.5

Picture two: What he needs to hit in 5 yrs 5 scooters x $3000=$15000

How many scooters and months he has 5x12=60 months

60 months x 5 scooters= 300 times to rent

$15000/300 times to rent=$50

So he needs to rent them at $50