a. What is the probability that the dealer will sell less than 3 refrigerators next week? b. Find the mean or expected value of X. c. If the dealer makes a profit of $50 per refrigerator sold, what is the dealer's expected profit for next week?

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...
icon
Related questions
Question
The number of refrigerators X an appliance dealer will sell in a week has a
probability distribution given by
10 – X
P(X)
; x= 0,1,2,3,4
40
a. What is the probability that the dealer will sell less than 3 refrigerators next week?
b. Find the mean or expected value of X.
c. If the dealer makes a profit of $50 per refrigerator sold, what is the dealer's
expected profit for next week?
Transcribed Image Text:The number of refrigerators X an appliance dealer will sell in a week has a probability distribution given by 10 – X P(X) ; x= 0,1,2,3,4 40 a. What is the probability that the dealer will sell less than 3 refrigerators next week? b. Find the mean or expected value of X. c. If the dealer makes a profit of $50 per refrigerator sold, what is the dealer's expected profit for next week?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning