Each Home Depot store must decide how much paint to order each month. From historical records, they know that the amount of paint they sell during May is distributed as follows: there is a $10\%$ chance demand will be $730$ gallons, a $15\%$ chance that demand will be $820,$ a $40\%$ chance that demand will be $1200,$ and otherwise, demand will be $1500$ gallons.

What is the expected value of demand for paint?

Answer rating: 100% (QA)

To calculate the expected value of demand for paint we nee... View the full answer