(a)-(c) please

Question 3 [15 points) ABCD is a television station that has 25 thirty-second advertising! slots during each evening. It is early January and the station is selling advertising for Sunday, February 9th. They could sell all of the slots right now for $400K cach, but, because on this particular Sunday the station is televising the Oscar ceremonies, there will be an opportunity to sell slots during the week right before February 9th for a price of $1 million. For now, assume that a slot not sold in advance and not sold during the last week is worthless to ABCD. To help make this decision, the salesforce has created the following probability distribution for last-minute sales i.e., during the week prior to February 9th): Number of Slots, x Probability Exactly x Slots Are Sold 0.00 0.05 0.10 0.15 0.20 0.10 0.10 0.10 0.10 0.05 0.05 0.00 a. How many slots should ABCD sell in advance? [5 points) b. In practice, there are several companies willing to place standby advertising messages: if there is an emply slot available (.e., this slot was not sold either in advance or during the last week), the standby message is placed into this slot. Note that both the standby slots and $400K slots are sold in advance (at the same time). The only difference is $400K guarantees that the ad is aired whereas with standby there is only a probability the aid is aired. Since there is no guarantee the ad is aired, standby messages costs advertisers $250K. How many slots should ABCD sell in advance? [5 points] C. Suppose ABCD chooses a booking limit of 10 slots on advanced sales, i.e., at price $400K. In this case, what is the probability there will be slots left over for stand-by messages? 15 points]