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Author Question: Exhibit 5-9The probability distribution for the daily sales at Michael's Co. is given below.Daily ... (Read 64 times)

Katmoss16

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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

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by Katmoss16 on Mar 25, 2023

labrinker

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Reply #1 on: Mar 25, 2023
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Katmoss16

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Reply 2 on: Mar 25, 2023
YES! Correct, THANKS for helping me on my review

xiaomengxian

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Reply 3 on: Yesterday
Wow, this really help

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