A consumer electronics store stocks five alarm clock radios. If it has fewer than five clock radios available at the end of a week, the store restocks the item to bring the in-stock level up to five. If weekly demand is greater than the five units in stock, the store loses sales. The radio sells for $30 and costs the store $12. The manager estimates that the probability distribution of weekly demand for the radio is as shown in the provided data table. Complete parts a through d below. a. What is the expected weekly demand for the alarm clock radio? b. What is the probability that weekly demand will be greater than the number of available radios? c. What is the expected weekly profit from the sale of the alarm clock radio? (Remember there are on five clock radios available in a week. The expected weekly profit is d. On average, how much profit is lost each week because the radio is not available when demanded? Weekly_Demand Probability 0 0.04 1 0.06 2 0.09 3 0.21 4 0.38 5 0.12 6 0.06 7 0.04
A consumer electronics store stocks five alarm clock radios. If it has fewer than five clock radios available at the end of a week, the store restocks the item to bring the in-stock level up to five. If weekly demand is greater than the five units in stock, the store loses sales. The radio sells for $30 and costs the store $12. The manager estimates that the probability distribution of weekly demand for the radio is as shown in the provided data table. Complete parts a through d below. a. What is the expected weekly demand for the alarm clock radio? b. What is the probability that weekly demand will be greater than the number of available radios? c. What is the expected weekly profit from the sale of the alarm clock radio? (Remember there are on five clock radios available in a week. The expected weekly profit is d. On average, how much profit is lost each week because the radio is not available when demanded? Weekly_Demand Probability 0 0.04 1 0.06 2 0.09 3 0.21 4 0.38 5 0.12 6 0.06 7 0.04
MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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A consumer electronics store stocks five alarm clock radios. If it has fewer than five clock radios available at the end of a week, the store restocks the item to bring the in-stock level up to five. If weekly demand is greater than the five units in stock, the store loses sales. The radio sells for $30 and costs the store $12.
The manager estimates that theprobability distribution of weekly demand for the radio is as shown in the provided data table. Complete parts a through d below.
The manager estimates that the
a. What is the expected weekly demand for the alarm clock radio?
b. What is the probability that weekly demand will be greater than the number of available radios?
c. What is the expected weekly profit from the sale of the alarm clock radio? (Remember there are on five clock radios available in a week.
The expected weekly profit is
d. On average, how much profit is lost each week because the radio is not available when demanded?
| Weekly_Demand | Probability |
| 0 | 0.04 |
| 1 | 0.06 |
| 2 | 0.09 |
| 3 | 0.21 |
| 4 | 0.38 |
| 5 | 0.12 |
| 6 | 0.06 |
| 7 | 0.04 |
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