Question: The probability array ($B$5:$D$5) is given a range name of Probability. In the development of the following spreadsheet (screenshot) expected profit model, what should be

The probability array ($B$5:$D$5) is given a

The probability array ($B$5:$D$5) is given a range name of Probability". In the development of the following spreadsheet (screenshot) expected profit model, what should be entered in B15? D E F G B 1 Probability =Sheet1 I$B$5:$D$5 2 3 Model of expected demands 4 Demand 500 5 Probability 0.25 6 1000 0.45 1500 0.3 7 8 9 1000 Data table of profit as a function of order quantity (along side) and demand (along top) 6000 500 1500 10 500 2000 2000 2000 11 1000 -1000 6000 5000 12 1500 -5000 1000 9000 13 14 Order quantity Expected profit 15 500 $2,000 16 $3,950 17 $1,900 1000 1500' O =MAX(B10:010) O =SUMPRODUCT(B10:010, Probability) O =SUM(Probability)"AVERAGE(B10:010) O=AVERAGE(B10:D10)

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