A survey conducted over last 25 years indicated that in 10 years the winter was mild, in 8 years it was cold and in the remaining 7 it was very cold. A company sells 1,000 woollen coats in a mild year, 1,300 in a cold year and 2,000 in a very cold year. You are required to find the yearly expected profit of the company if a woolen coat costs $. 1730 and it is sold to stores for $. 2480.
A survey conducted over last 25 years indicated that in 10 years the winter was mild, in 8 years it was cold and in the remaining 7 it was very cold. A company sells 1,000 woollen coats in a mild year, 1,300 in a cold year and 2,000 in a very cold year. You are required to find the yearly expected profit of the company if a woolen coat costs $. 1730 and it is sold to stores for $. 2480.
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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Transcribed Image Text:A survey conducted over last 25 years indicated that in 10 years the winter was mild, in 8 years it was
cold and in the remaining 7 it was very cold. A company sells 1,000 woollen coats in a mild year, 1,300
in a cold year and 2,000 in a very cold year. You are required to find the yearly expected profit of the
company if a woolen coat costs $. 1730 and it is sold to stores for $. 2480.
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