Question
This part consists of 7 short-answer questions. The number of points awarded per question will be indicated to you as you go along. Instructions: Answer
This part consists of 7 short-answer questions. The number of points awarded per question will be indicated to you as you go along. Instructions: Answer in the space provided. The following scenario will allow you to answer questions 11 to 17. A convenience store prepared 60 very popular sandwiches for its customers for the week's sales. The demand for these sandwiches is a random variable denoted by . Suppose the probability distribution of looks like this:
= Request for sandwiches (in units) | 0 | 40 | 60 | 80 | 100 |
Probability | 0,10 | 0,20 | 0,40 | 0,20 | 0,10 |
What is the expectation of ?
What is the variance of ?
What is the standard deviation of ?
What is the probability that the demand is strictly greater than the quantity of sandwiches prepared?
Each sandwich is sold at a price of $3 while its cost is estimated at $2.25. Complete the table below by replacing the letters a-b-c-d-e with the amount of profit corresponding to each possible value of the request (put a negative value in the case of a loss)
= Request for sandwiches (in units) | 0 | 40 | 60 | 80 | 100 |
Probability | 0,10 | 0,20 | 0,40 | 0,20 | 0,10 |
= Profit (in dollars) |
What is the convenience store's expected profit from selling the sandwiches this week?
What is the probability that the convenience store will make a loss this week (find (<0) )
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