A Small Market Orders Copies Of A Certain Magazine For Its Magazine Rack Each Week ...

Question # 00792699 Posted By: Scott67 Updated on: 02/04/2021 10:45 AM Due on: 03/03/2021
Subject Mathematics Topic General Mathematics Tutorials:
Question
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A small market orders copies of a certain magazine for its magazine rack each week. Let X=X= demand for the magazine, with pmf
 

x p(x)

1 1/15

2 2/15

3 3/15

4 4/15

5 3/15

6 2/15

 

Suppose the store owner actually pays $ 1.25 for each copy of the magazine and the price to customers is $ 3.75. If magazines left at the end of the week have no salvage value, calculate the expected profit.

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