unsold DVDs would be worthless
Worse yet, it was difficult for Monte to know in advance how many concertgoers would attend the festival on Saturday, or what percentage of the attendees might purchase the DVD
. He produced the data (Exhibit 1), which showed Saturday attendance for the festival’s entire 15-year run, and delivered it to Monte,
Fyno also had an idea about doing some market research to gauge whether attendees would buy a DVD
mean probability of an individual attendee’s choice to buy the DVD is mean p = 7/37 = 0.1892
37 responded, 7 of whom s
The standard deviation of an individual’s choice (with a probability p of observing 1 and a probability 1 − p of observing 0) would be equal to sqrt(p × (1 − p)) = 0.3917.
to engage a video crew to record Friday’s performance digitally. If Monte and Fyno wished to go ahead with the video recording, they were to deliver a check that afternoon to the video company
,300 DVDs in
exceeded 5,300 units
HF0.20 per excess uni
royalty to the performers of CHF1.02 per uni
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