27. An automobile dealership sells two types of fourdoor sedans, the Land Yacht and the Mini-Rover. The
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27. An automobile dealership sells two types of fourdoor sedans, the "Land Yacht" and the "Mini-Rover."
The number of Land Yachts and Mini-Rovers sold on any given day varies, with the probabilities of the various possible sales outcomes given by the following table:
167 Number of Land Yachts Sold 0 1 2 3 Number of 0 .05 .05 .02 .02 Mini-Rovers 1 .03 .10 .08 .03 Sold 2 .02 .15 .15 .04 3 .01 .10 .10 .05 Land Yachts sell for $22,000 each, and Mini-Rovers for
$7,500 each. These cars cost the dealership $20,000 and
$6,500, respectively, which must be paid to the car manufacturer.
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Related Book For
Mathematical Statistics For Economics And Business
ISBN: 9780387945873
1st Edition
Authors: Ron C. Mittelhammer
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