Author Question: Exhibit 5-9The probability distribution for the daily sales at Michael's Co. is given below.Daily ... (Read 108 times)

Katmoss16 · **on:** Mar 25, 2023

Question 1

Exhibit 5-9
The probability distribution for the daily sales at Michael's Co. is given below.

Daily Sales (In $1,000s)	Probability
40	0.1
50	0.4
60	0.3
70	0.2

Refer to Exhibit 5-9. The expected daily sales are

◦

$55,000

◦

$56,000

◦

$50,000

◦

$70,000

Question 2

Exhibit 5-9
The probability distribution for the daily sales at Michael's Co. is given below.

Daily Sales (In $1,000s)	Probability
40	0.1
50	0.4
60	0.3
70	0.2

Refer to Exhibit 5-9. The probability of having sales of at least $50,000 is

◦

0.5

◦

0.10

◦

0.30

◦

0.90

labrinker · **Reply #1 on:** Mar 25, 2023

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