A small internet company sells ebooks. The company has paid $200 to obtain a new book electronically and sells each copy of the book at a price of $30. Let X stand for the number of sales the company will make for this particular book and suppose that X has a probability function

(i) Find the probability function of the company’s profit (or loss).
(ii) What is the overall probability that the company will make a profit from the sales of this ebook?
(iii) What is the probability that the company will make a profit but that will be less than $80?

Transcribed Image Text:

7x-1 f(x)= x = 1, 2, ... gr