A small-town bakery has shelf space for five pieces of a perishable bread. The unit cost of baking each piece of bread is PhP 87 and it can be sold b the baker for PhP 142 each. The probabilities for the day's demand in pieces are given below: Demand (x) 1 3. 4 f(x) 0.15 0.12 0.23 0.19 0.12 However, pieces of bread that were unsold during the day are sold to another bakery that makes pudding and french toast. This bakery buys the bread for PhP 53 each. But due to its limited capital, this bakery could purchase just up to 2 pieces of bread. What is the expected profit if the bakery bakes 3 pieces in a day?

A small-town bakery has shelf space for five pieces of a perishable bread. The unit cost of baking each piece of bread is PhP 87 and it can be sold b the baker for PhP 142 each. The probabilities for the day's demand in pieces are given below: Demand (x) 1 3. 4 f(x) 0.15 0.12 0.23 0.19 0.12 However, pieces of bread that were unsold during the day are sold to another bakery that makes pudding and french toast. This bakery buys the bread for PhP 53 each. But due to its limited capital, this bakery could purchase just up to 2 pieces of bread. What is the expected profit if the bakery bakes 3 pieces in a day?

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter9: Counting And Probability

Section9.3: Binomial Probability

Problem 2E: If a binomial experiment has probability p success, then the probability of failure is...

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