Palmer Jam Company is a small manufacturer of several different jam products. One product is an organic jam that has no preservatives, sold to retail outlets. Susan Palmer must decide how many cases of jam to manufacture each month. The probability that demand will be 6 cases is 0.05, for 7 cases it is 0.25, for 8 cases it is 0.50, and for 9 cases it is 0.20. The cost of every case is $50, and the price Susan gets for each case is $100. Unfortunately, any cases not sold by the end of the month are of no value as a result of spoilage. Based on the given information, Susan's conditional profits table for jam is: Demand Produce 6 cases 7 cases 8 cases 9 cases 6 cases p=0.05 7 cases p=0.25 8 cases p=0.50 9 cases p=0.20

Palmer Jam Company is a small manufacturer of several different jam products. One product is an organic jam that has no preservatives, sold to retail outlets. Susan Palmer must decide how many cases of jam to manufacture each month. The probability that demand will be 6 cases is 0.05, for 7 cases it is 0.25, for 8 cases it is 0.50, and for 9 cases it is 0.20. The cost of every case is $50, and the price Susan gets for each case is $100. Unfortunately, any cases not sold by the end of the month are of no value as a result of spoilage. Based on the given information, Susan's conditional profits table for jam is: Demand Produce 6 cases 7 cases 8 cases 9 cases 6 cases p=0.05 7 cases p=0.25 8 cases p=0.50 9 cases p=0.20

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section11.8: Probabilities Of Disjoint And Overlapping Events

Problem 2C

See similar textbooks