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Miam Fruit sells custom boxes of tropical fruit. Each box sells for a revenue of $50. They estimate four possible levels of demand for these
Miam Fruit sells custom boxes of tropical fruit. Each box sells for a revenue of $50. They estimate four possible levels of demand for these fruit boxes for next month: there is a 10% chance the demand will be 20 boxes; a 30% chance the demand will be 30 boxes, a 40% chance the demand will be 40 boxes, and a 20% chance the demand will be 50 boxes. Because of limited production from their orchards, Miam Fruit has a production capacity of 45 boxes for next month. What is the expected value of the revenue for next month for Miam Fruit? Show your work. Expected Revenue ____
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