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(1) The table below is a probability distribution of potential quantity of sales of Gourmet sausages during...

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Basic Math

(1) The table below isa probability distribution of potential quantity of sales ofGourmet sausages during a game. John Bull has to pay a concessionfee of $200 to receive a permit to sell sausages at the stadium.Gourmet sausages can be bought at wholesale for $2.00 and sold inthe stadium for $3.50 each. Unsold sausages cannot be returned.Given the probability distribution:

  1. How many sausages shouldJohn Bull expect to sell?
  2. How many sausages shouldJohn Bull purchase? Gourmet sausages can only be purchased inbatches of 50 units as indicated in the probabilitydistribution.

SALES

Probability

100

0.05

150

0.06

200

0.10

250

0.20

300

0.25

350

0.30

400

0.04

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