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6. Problem 6 Sales and profits for a new product are uncertain. The marketing department has predicted that the most likely number of sales is
6. Problem 6 Sales and profits for a new product are uncertain. The marketing department has predicted that the most likely number of sales is 10,000 units per year, and the manufacturing department estimates that, at this level of sales, profit per unit sold would be $22. The departments have created alternative projections: sales might be as high as 14,000 units a year with a profit per unit sold of $17, with a probability of 15%. Sales might instead be as low as 8,000 units per year with a profit per unit sold of $25, with a probability of 25%. (a) Construct a table of probability distributions. Include the probability, total sales #s, profit per unit sold, and total $ profit for each possible outcome (rounded to the nearest dollar). (b) Based on this distribution, calculate the expected value of total profit in dollars per year, rounded to the nearest dollar
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