Question: Tees R Us which manufactures and sells Tshirts for sporting
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.
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