A small supermarket is trying to determine how many copies of People magazine it should order each week The owner believes the demand for People is governed by the following discrete random variable The supermarket pays $1 00 for each copy of People and assumes a copy sells at the store for $1 95 Each unsold copy can be returned for $0 50 How many copies of People should the store order Demand 15 20 25 30 35 Probability 0 10 0 20 0 30 0 25 0 15

Question: A small supermarket is trying to determine how many copies of People magazine it should order each week. The owner believes the demand for People

A small supermarket is trying to determine how many copies of People magazine it should order each week. The owner believes the demand for People is governed by the following discrete random variable: Demand 15 20 25 30 35 Probability 0.10 0.20 0.30 0.25 0.15

The supermarket pays $1.00 for each copy of People and assumes a copy sells at the store for $1.95. Each unsold copy can be returned for $0.50. How many copies of People should the store order?

Demand 15 20 25 30 35 Probability 0.10 0.20 0.30 0.25 0.15

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