A lab orders a shipment of 100 rats a week, 52 weeks a year, fromrat supplier for experiments that the lab conducts. Prices for each week shipment of rats follow the distribution below: $10.00 $15.00 0.5 Price $12.50 Probability How much should the lab budget for next year's rat orders assuming this 0.2 0.3 distribution does not change. (Hint: find the expected price.)

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section: Chapter Questions
Problem 35T
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Question
100%
Provide an appropriate response.
A lab orders a shipment of 100 rats a week, 52 weeks a year,
fromrat
supplier for experiments that the lab conducts. Prices for each week
shipment of rats follow the distribution below:
$10.00
$15.00
$12.50
0.3
Price
Probability
How much should the lab budget for next year's rat orders assuming this
distribution does not change. (Hint: find the expected price.)
0.2
0.5
Transcribed Image Text:Provide an appropriate response. A lab orders a shipment of 100 rats a week, 52 weeks a year, fromrat supplier for experiments that the lab conducts. Prices for each week shipment of rats follow the distribution below: $10.00 $15.00 $12.50 0.3 Price Probability How much should the lab budget for next year's rat orders assuming this distribution does not change. (Hint: find the expected price.) 0.2 0.5
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