Question

Suppose you want to buy a restaurant. So you asked the owner what is the distribution...

  1. Suppose you want to buy a restaurant. So you asked the owner what is the distribution of the number of customers you get each work day. The owner gave you the distribution (expected percentages) on each work day in the following table. And you observed the number of customers on each work day by yourself which are also listed as below.

Day

Monday

Tuesday

Wednesday

Thursday

Friday

Expected

10%

10%

15%

20%

30%

Observed

30

14

34

45

57

Do you think the owner’s distribution is correct or not? Please explain why.

Business   Accounting   
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Answer #1
Day Monday Tuesday Wednesday Thursday Friday
Expected 10% 10% 15% 20% 30% 0.85
Observed 30 14 34 45 57 180
As Per Observed 17% 8% 19% 25% 32% 1
Diferrence 7% -2% 4% 5% 2% 0.15
Assumptions
We Assume that Resturant opens only on Monday to Friday
Hence there is decreprancy in amking assumption
Generally weekends have higher percent sale as compared to weekdays as Highlighted
Hence owner distrubtion is not correct as observed with actual data
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