Radio Shack stocks four alarm clock radios. If it has fewer than four clock radios available at
Question:
x (Weekly Demand) P(x)
0…………………………………….0.05
1…………………………………….0.05
2…………………………………….0.10
3…………………………………….0.20
4…………………………………….0.40
5…………………………………….0.10
6…………………………………….0.05
7…………………………………….0.05
a. What is the expected weekly demand for the alarm clock radio?
b. What is the probability that weekly demand will be greater than the number of available radios?
c. What is the expected weekly profit from the sale of the alarm clock radio? (Remember: There are only four clock radios available in any week to meet demand.)
d. On average, how much profit is lost each week because the radio is not available when demanded?
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Related Book For
Business Statistics A Decision Making Approach
ISBN: 9780133021844
9th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
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