A Small Market Orders Copies Of A Certain Magazine For Its Magazine Rack Each Week ...
Question # 00792699
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Updated on: 02/04/2021 10:45 AM Due on: 03/03/2021

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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Rating:
5/