A QwikStore has generated their daily sales records on the results of selling their 20 oz. "Awesome Drink" across the last 400 days. What is the expected value of "Awesome Drinks"? Number Sold of "Awesome Drinks" Number of Days 75 120 50 75 100 125 Total OA) 22.50 OB) 110 OC) 325 OD) 88.13 OE) 1.00 125 80 400
A QwikStore has generated their daily sales records on the results of selling their 20 oz. "Awesome Drink" across the last 400 days. What is the expected value of "Awesome Drinks"? Number Sold of "Awesome Drinks" Number of Days 75 120 50 75 100 125 Total OA) 22.50 OB) 110 OC) 325 OD) 88.13 OE) 1.00 125 80 400
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
![**Question:**
QwikStore has generated their daily sales records on the results of selling their 20 oz. "Awesome Drink" across the last 400 days. What is the expected value of "Awesome Drinks"?
**Data Table:**
| Number Sold of "Awesome Drinks" | Number of Days |
|-----------------------------------|--------------------|
| 50 | 75 |
| 75 | 120 |
| 100 | 125 |
| 125 | 80 |
| **Total** | **400** |
**Options:**
A) 22.50
B) 110
C) 325
D) 88.13
E) 1.00
**Solution:**
To calculate the expected value, multiply the number sold by the corresponding number of days, add the results, and divide by the total number of days.
- Calculation:
\[(50 \times 75) + (75 \times 120) + (100 \times 125) + (125 \times 80)\]
\[= 3750 + 9000 + 12500 + 10000 = 35250\]
- Expected Value:
\[35250 \div 400 = 88.125\]
Therefore, the expected value is **D) 88.13**.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fed18415a-af27-44e8-aa80-ad5d454cc154%2F189f9c45-fea2-43fb-aa93-93fcea851055%2Fswr7zhs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Question:**
QwikStore has generated their daily sales records on the results of selling their 20 oz. "Awesome Drink" across the last 400 days. What is the expected value of "Awesome Drinks"?
**Data Table:**
| Number Sold of "Awesome Drinks" | Number of Days |
|-----------------------------------|--------------------|
| 50 | 75 |
| 75 | 120 |
| 100 | 125 |
| 125 | 80 |
| **Total** | **400** |
**Options:**
A) 22.50
B) 110
C) 325
D) 88.13
E) 1.00
**Solution:**
To calculate the expected value, multiply the number sold by the corresponding number of days, add the results, and divide by the total number of days.
- Calculation:
\[(50 \times 75) + (75 \times 120) + (100 \times 125) + (125 \times 80)\]
\[= 3750 + 9000 + 12500 + 10000 = 35250\]
- Expected Value:
\[35250 \div 400 = 88.125\]
Therefore, the expected value is **D) 88.13**.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 5 images
Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education