The management of the Cambridge Company has projected the sales of its products (in millions of dollars) for the upcoming year, with the associated probabilities shown in the following table. Sales 20 23 26 29 32 35 Probability 0.05 0.11 0.38 0.26 0.15 0.05 What are the expected sales for next year? (
The management of the Cambridge Company has projected the sales of its products (in millions of dollars) for the upcoming year, with the associated probabilities shown in the following table. Sales 20 23 26 29 32 35 Probability 0.05 0.11 0.38 0.26 0.15 0.05 What are the expected sales for next year? (
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.3: Special Probability Density Functions
Problem 43E
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Question
The management of the Cambridge Company has projected the sales of its products (in millions of dollars) for the upcoming year, with the associated probabilities shown in the following table.
Sales | 20 | 23 | 26 | 29 | 32 | 35 |
Probability | 0.05 | 0.11 | 0.38 | 0.26 | 0.15 | 0.05 |
What are the expected sales for next year? (Enter your answer to two decimal places.)
million dollars
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