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The McCormick Hardware Store places one order for riding lawn mowers each February. The lawn mowers being purchased this year cost $300 and sell for

The McCormick Hardware Store places one order for riding lawn mowers each February. The lawn mowers being purchased this year cost $300 and sell for $425. In the past, McCormick has always been able to sell all its surplus mowers during the September end-of-summer sale. The sales price for any surplus mowers this year is $250. (a) If the following probability distribution for demand is assumed, how many mowers should be ordered? (b) What is McCormicks expected profit if they order 4 mowers? Demand Probability 0 0.10 1 0.15 2 0.30 3 0.20 4 0.15 5 0.10

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