subject
Mathematics, 19.02.2020 04:57 peytonamandac9114

A small market orders copies of a certain magazine for its magazine rack each week. Let X = demand for the magazine, with the following pmf. x 1 2 3 4 5 6 p(x) 1 14 2 14 3 14 3 14 2 14 3 14 Suppose the store owner actually pays $2.00 for each copy of the magazine and the price to customers is $4.00. If magazines left at the end of the week have no salvage value, is it better to order three or four copies of the magazine? [Hint: For both three and four copies ordered, express net revenue as a function of demand X, and then compute the expected revenue.] What is the expected profit if three magazines are ordered? (Round your answer to two decimal places.) $ What is the expected profit if four magazines are ordered? (Round your answer to two decimal places.) $ How many magazines should the store owner order? 3 magazines 4 magazines Correct: Your answer is correct.

ansver
Answers: 3

Another question on Mathematics

question
Mathematics, 21.06.2019 23:00
The price of a car has been reduced from $19,000 to $11,590. what is the percentage decrease of the price of the car?
Answers: 1
question
Mathematics, 21.06.2019 23:00
Find the distance between c and d on the number line c=3 and d=11
Answers: 1
question
Mathematics, 21.06.2019 23:40
Rounded to the nearest tenth, what is the value of x
Answers: 1
question
Mathematics, 22.06.2019 00:40
Ican interpret and represent the remainder in division calculations sensibly for the context (eg 27.4 in calculating average height in cm: $27.44 if it represents an amount of money) solve the following problems. 15) the wildlife park charges $25.50 dollars per person to enter their park if the park made $15096 dollars today, how many people entered the park? 16) ms adams plus 2,230 other keen runners ran a marathon: between them they ran 94817.5km. how many km did each competitor run?
Answers: 1
You know the right answer?
A small market orders copies of a certain magazine for its magazine rack each week. Let X = demand f...
Questions
question
Mathematics, 19.07.2020 14:01