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A tractor supply company sells it's main tractor to other companies to sell (Wholesale) and it also sell it in it's retail store. Marketing analysis
A tractor supply company sells it's main tractor to other companies to sell (Wholesale) and it also sell it in it's retail store. Marketing analysis use probability to find estimates of sales for the coming year. The following table are estimates for next year's sales:
Wholesale Sales
Number Sold | 1000 | 750 | 500 | 250 |
---|---|---|---|---|
Probability | 0.1 | 0.4 | 0.3 | 0.2 |
Retail Sales
Number Sold | 200 | 100 | 50 |
---|---|---|---|
Probability | 0.2 | 0.3 | 0.5 |
What profit does the tractor supple company expect to make for next year if the profit from each tractor sold is $2500 at wholesale and $4500 at retail?
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