27. An automobile dealership sells two types of fourdoor sedans, the Land Yacht and the Mini-Rover. The

Question:

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.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: