5.75 You have been asked to determine the probability that the contribution margin for a particular product
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5.75 You have been asked to determine the probability that the contribution margin for a particular product line exceeds the fixed cost of $2,000. The total number of units sold is a normally distributed random variable with a mean of 400 and a variance of 900, X | N1400, 9002. The selling price per unit is $10.
The total number of units produced is a normally distributed random variable with a mean of 400 and a variance of 1,600, Y | N1400, 1,6002. The variable production cost is $4 per unit. Production and sales have a positive correlation of 0.50.
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Related Book For
Statistics For Business And Economics
ISBN: 9780273767060
8th Global Edition
Authors: Paul Newbold, Mr William Carlson, Ms Betty Thorne
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