Question
Hadey the goat and Taylor the tailor are preparing to launch their new clothing line collab Commes des Mouflons. The preorders for the jackets are
Hadey the goat and Taylor the tailor are preparing to launch their new clothing line collab "Commes des Mouflons". The preorders for the jackets are already rolling in, with the number of orders each day "X" having the distribution shown below. Assume that the number of orders each day is an independent variable.
X P(X=x)
0 0.6
1 0.3
2 0.04
3 0.03
4 0.02
5 0.01
f. If the pre-order price for a jacket is $240, how much revenue should Hadey and Taylor EXPECT in the month of May?
g. If each jacket takes Taylor 3 hours to produce, how much time should she EXPECT to devote to production for the month of May?
h. What is the standard ERROR in the number of jacket orders per day in the month of May?
i. What shape does the distribution of the mean orders PER DAY in the month of May look like?
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