Each box sells for a revenue of $50. They estimate four possible levels of demand for these fruit boxes for next month: there is a 10% chance the demand will be 20 boxes; a 30% chance the demand will be 30 boxes, a 40% chance the demand will be 40 boxes, and a 20% chance the demand will be 50 boxes. Because of limited production from their orchards, Miam Fruit has a production capacity of 45 boxes for next month. What is the expected value of the revenue for next month for Miam Fruit? Show your work

Answer rating: 100% (QA)

Heres how to calculate the expected value of the revenue for Miam Fruit next month 1 Calculate Reven... View the full answer