A forest consists of two types of trees; young (between 0 and 3 m tall) and adults (more than 3 m). Each year, 20% of young trees die, 10% sell for $20 each, 30% remain between 0 and 3 m, and 40% grow taller than 3 m. Each year, 40% of adult trees sell for $50, 20% sell for $20, 30% remain in the forest, and 10% die. If it costs $5 to plant a tree, what is the expected profit for each tree planted?

A forest consists of two types of trees; young (between 0 and 3 m tall) and adults (more than 3 m). Each year, 20% of young trees die, 10% sell for $20 each, 30% remain between 0 and 3 m, and 40% grow taller than 3 m. Each year, 40% of adult trees sell for $50, 20% sell for $20, 30% remain in the forest, and 10% die. If it costs $5 to plant a tree, what is the expected profit for each tree planted?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Related questions

Q: In the 3-month period November 1, 2014, through January 31, 2015, Hess Corp. (HES) stock decreased…

Q: January, the softcover books, and eft Coast Bookstore chain sold 600 hardcover books, 1,700 plastic…

A: We know that Profit= Selling Price - Cost Price the matrix 600 1100 1700 denotes number of sold…

Q: A manufacturer of calculators has a monthly fixed cost of $500 and a processing cost of $17 for each…

A: Profit is equal to difference of selling price and manufacturing cost.

Q: An equipment rental firm purchased a new scissor lift to add to its rental fleet. The scissor lift…

Q: The total travel and subsistence (T&S) fee for this project was not agreed before the project…

Q: 3. Suppose an amount of money is invested at 8% per year. An additional amount of money equal to…

Q: A multimedia company anticipates that there will be a demand for 20,000 copies of a certain DVD…

Q: suppose it costs $52,000 per year to live in city A. It costs $90,000 to live in city B. In which…

A: We have to find correct answer.

Q: 2. The local hospital offers an incentive for nurses to work longer shifts. After a regular 8-hour…

A: The scenario of the longer shifts in the local hospital for nurses.After a regular 8-hour shift,…

Q: A local gas station has developed a new lottery scratch card in which they want 20% of contestants…

A: Given The probability that a contestant wins a small prize is 0.2. The probability that a contestant…

Q: The Fresh Oven Bakery sells the pies for $3 each. She knows that the number of pies it can sell…

A: Given:- Selling price P = $ 3 each Baking cost C = $ 2.50 each

Q: Question #8 - A retail outlet sells 2000 pairs of pants a year. It costs $2 to store a pair of pants…

Q: If an investment decreases 1% the first year, 6% the second year and 9% the third year, what is the…

Q: sporting goods store sells 64 tennis rackets per month at $90$ each. The owners estimate that for…

A: Given the query is to find the price to maximize the revenue.

Q: If a household has 3 members, and has an annual income of $100,000, predict this household’s monthly…

A: The data shows the monthly household spending, annual household income and household size.

Q: A store purchased an item for $25 and planned to sell it for $43.75 so that their profit would be…

A: We have solve this question based on profit and loss.

Q: Roland's Barber Shop and Charley's Barber Shop are both located in the business district of a…

A: Given Roland's strategies based on what Charley does. Let us segregate the problem into 3 cases from…

Q: A deli sells 320 sandwiches per day at a price of $4 each. (A) A market survey shows that for every…

Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: For a young tree

VIEW

Step 2: For an adult tree

VIEW

Solution

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

[MIT grad Andy Berkheimer] found that [YouTube] viewers start closing out if there’s even a two-second delay. Every one-second delay after that results in a 5.8 percent increase in the number of people who give up. A 40-second wait costs a video nearly a third of its audience. Show that at this rate more than ninety percent of the viewers would give up after 40 seconds – not the “nearly a third” in the quote.
A certain toll road averages 238,000 cars per day when charging $1 per car. A survey concluded that increasing the toll will result in 700 fewer cars for each cent of toll increase. What toll should be charged in order to maximize the revenue?
Sacred Heart’s yearbook committee is comparing prices from two different companies to print this year’syearbooks.Company A: charges $5 000 for set up plus $4 per copy.Company B: charges $14 per copy with no set-up fee.a. Write an equation to represent the relationship between the total cost and the number of yearbooks at eachcompany if the variables are defined as follows: [2]Let n represent the “number of yearbooks”Let C represent the “total cost”
A company uses 5000 items per annum which has a price of $2 each. The ordering costs are $150 per order and holding costs are $1.50 per item per annum. The company is offered a 5% discount (discounted price is $1.90) for orders of 5000 and over. Order cost and holding cost remain at $150 per order and $1.50 respectively. Assuming that the company orders 5000 items per order, calculate the number of orders per annum, average stock, annual stock holding cost, annual order cost, annual inventory cost and the total annual cost of items and inventory.
When a company offers a new product or service, they estimate how much of that product or service people will want at different prices. This is referred to as the product or service demand . As the price of a product or service increases, the demand usually decreases, and this drives the price down. Companies use the estimated demand to determine how much of a product or service they are willing to supply at different prices. As the price of a product or service increases, companies are willing to supply more of it because they will earn more money. If you graph the demand and the supply curves on the same xy-plane, they will sometimes intersect at the point where the price and the supply are in equilibrium. Consider the scenario below. Yaseen is a local artist who wants to increase the amount of money she earns every month by selling at-home painting kits. These kits will include a photograph of the finished painting, a link and password to Yaseen’s YouTube channel where she will…
What price is each store charging on an identical item originally costing $300 ? Store A is giving a straight 60% off. Store B is giving 30% off then an additional 30% off. Store C is giving 50% off then an additional 20% off. Store A: $ Store B: $ Store C: $
Until now, debit card fees have been 44 cents a transaction, on average. The Federal Reserve in June agreed to cut the fees to a maximum of about 24 cents. While the fee amounts to pennies per swipe, it rapidly adds up across millions of transactions. The new limit is expected to cost the banks about $6.6 billion in revenue a year. What percentage of a $10 debit card transaction does a merchant have to pay to the bank that issued the card? How will that percentage change when the new rule takes effect?
charge 8. A wine warehouse expects to sell 30,000 bottles of wine each year. Each bottle costs $9, plus a fixed of $200 per order. If it costs $3 to store a bottle for a year, how many bottles should be ordered at a time and how many orders should the warehouse place in a year to minimize inventory costs?
A financial manager has to invest $ 200000 in two options, one risky with a return of 20% and second less risky with a return of 10% per year. If the goal is to make $ 32000 at the end of the year what should be distribution of the money in both options.
QUESTION 3 A wholesaler must decide how many computers to purchase before they know how many they will be able to sell to local retailers. The wholesaler purchases the computers for S300 each and sells them to retailers for $350 each. If the wholesaler is not able to sell them to a retailer then the wholesaler can return them to the manufacturer (for a refund of the S300 cost), but the wholesaler must pay $40 per computer that it returns to the manufacturer (in shipping, handling, and insurance costs). The following probability distribution describes the number of computers the wholesaler may possibly sell to local retailers: there is a 21% chance that they will sell 900 computers, a 56% chance that they will sell 1200 computers; otherwise, they will sell 1500 computers. What is the expected number of computers the wholesaler will sell? (please round your answer to 1 decimal place)
If a company has a total of 18,000,000 shares and an investor owns 14% of the company. How many shares do they own?
If a company issues common stock for $48800 and uses $36600 of the cash to purchase a truck, O assets will be increased by $12200. O equity will be reduced by $48800. O assets will be unchanged. O assets will be increased by $48800.