The owner of a newspaper stand receives 50 copies of Al Ahram newspaper every morning. The number
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The owner of a newspaper stand receives 50 copies of Al Ahram newspaper every morning. The number of copies sold, x, varies randomly according to the following probability distribution:
p1x2 = c 1
45, x = 35, 36,c, 49 1
30, x = 50, 51,c, 59 1
33, x = 60, 61,c, 70
(a) Determine the probability that the owner will sell out completely.
(b) Determine the expected number of unsold copies per day.
(c) A single copy costs 50 cents and sells for $1.00. Unsold copies have no value.
Determine the expected net income per day.
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