Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. statistics
  3. a small market orders copies of a certain magazine

A small market orders copies of a certain magazine for its magazine rack each week...

80.2K

Verified Solution

Question

Statistics

image

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 p x 2 3 1 5 4 1 16 16 16 16 1 4 5 6 3 2 16 16 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 O 3 magazines

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

What happens when you don’t regulate the production and secretion of the anti diuretic hormone, calcitonin,...

Physics
1.2K views

The position of a particle is given by r 3ti 2t j 1k m where...

Basic Math
1.2K views

The table below describes phone calls made on the planet K 2L last year The...

Statistics
1.2K views

Which of the following is NOT an assumption or condition for a hypothesis test for...

Algebra
1.2K views

Find the first second and third quartiles for the sales amounts in the data provided...

Algebra
1.2K views

Identify the x intercept of the function y 4 log3 x 4 0 1 81...

Accounting
1.2K views

Western Trading Company is a sole proprietorship engaged in the grain brokerage business. On December...

Accounting
1.2K views

QUESTION 4 [20] 4.1 ABC Fashion is a retail business specializing in shoes. Here...

Accounting
1.2K views

Question 1 2 pts Lemon, Lime, and Orange, three cash method, calendar year individuals, form...

Accounting
1.2K views

35) Sally's Optimist Club promotes optimism to the youth in Virginia. If the club has...

Accounting
1.2K views

Fill in the t-accounts for each situation and label each transaction as Deferrals/Prepaif or Accrual....

Accounting
1.2K views

Rachelle transfers property with a tax basis of $975 and a fair market value of...