Tees R Us, which manufactures and sells Tshirts for sporting events, is providing shirts for an upcoming tournament. Each shirt will cost $ 10 to produce and will be sold for $ 16. Any unsold shirts left over at the end of the tournament can be sold for $ 5 apiece in the near future. Tees R Us assumes the demand for the shirts will be 1,000, 2,000, 3,000, or 4,000. The company also estimates that the probabilities of each of these sales level occurring will be 15%, 25%, 30%, and 30%, respectively. Determine the expected monetary value of the project if Tees R Us chooses to print 3,000 shirts for the tournament.
Answer to relevant QuestionsThe following table shows Bob’s Bookstore’s estimated demand for a new calendar. The bookstore needs to decide whether to order 100, 200, or 300 calendars for the start of the year. Each calendar costs the store $ 6 to ...The Center for Disease Control and Prevention estimated that 37% of Americans received a flu shot during the winter of 2012– 2013. A random sample of seven Americans was selected. a. What is the probability that exactly ...According to the Pew Research Center, 23% of American adults read an ebook during 2012. A random sample of nine adults was selected. a. What is the probability that exactly two adults from this sample read an ebook last ...According to the National Hurricane Center, the average number of hurricanes during the Atlantic season, which runs from June 1 to November 30, was 6.5 hurricanes per year from 1982 to 2012. Assume the number of hurricanes ...Winner Automotive has a current inventory of 14 used cars and 8 used trucks. Management needs to select 10 used vehicles to participate in a special used vehicle sale at the local shopping mall. If the vehicles are selected ...
Post your question