Jane is a Halloween pumpkin vendor serving her own neighborhood. She purchases pumpkins for $5 each and sells for $10 each. At the end of the holiday season, the unsold pumpkins ca be salvaged at $3 each. From the past experience, Jane is sure about the sales probabilities which are listed below. Number of pumpkins sold probability 1 0.02 0.08 3 0.22 0.34 5 0.20 0.14 What is the expected number of pumpkins sold? Keep one decimal. QUESTION 15 What is the expected number of pumpkins unsold? Keep one decimal. QUESTION 16 What will be the expected profit? Keep one decimal.
Jane is a Halloween pumpkin vendor serving her own neighborhood. She purchases pumpkins for $5 each and sells for $10 each. At the end of the holiday season, the unsold pumpkins ca be salvaged at $3 each. From the past experience, Jane is sure about the sales probabilities which are listed below. Number of pumpkins sold probability 1 0.02 0.08 3 0.22 0.34 5 0.20 0.14 What is the expected number of pumpkins sold? Keep one decimal. QUESTION 15 What is the expected number of pumpkins unsold? Keep one decimal. QUESTION 16 What will be the expected profit? Keep one decimal.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Transcribed Image Text:Jane is a Halloween pumpkin vendor serving her own neighborhood. She purchases pumpkins for $5 each and sells for $10 each. At the
end of the holiday season, the unsold pumpkins ca be salvaged at $3 each. From the past experience, Jane is sure about the sales
probabilities which are listed below.
Number of pumpkins sold
probability
1
0.02
0.08
3
0.22
4
0.34
5
0.20
6
0.14
What is the expected number of pumpkins sold? Keep one decimal.
QUESTION 15
What is the expected number of pumpkins unsold? Keep one decimal.
QUESTION 16
What will be the expected profit? Keep one decimal.
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