:a bookstore owner is conducting market research to forecast sales for the coming year. the bookstore is open 360 days a year and out of the 1,200 people who pass the store each day, 8% of them enter the store and make a purchase. the average amount of each sale is $18. what is the estimated amount of sales for the coming year?

The answer to this question requires knowing how many days the store is open per year and what the average sales per day are. To determine the average daily sales, you must determine how many of the people who pass by make purchases and multiply that by the amount of each purchase. First, determine the number of people who pass by the store make purchases: 1,200 x 8% = 1200 x .08 = 96 people making purchases per day Next determine the average daily sales by multiplying the average number of daily purchasers by the average amount of each sale = 96 x $18 = $1,728 = average daily sales Lastly, multiply the number of days the store is open by the average daily sales = 360 x $1,728 = $622,080 the average annual sales for the upcoming year.