As a promotional gimmick, OHaganBooks.com has been selling copies of Encyclopaedia Galactica at an extremely low price that is changed each week at random in a nationally televised drawing. The following table gives the frequency with which each price will be chosen and summarizes the anticipated sales. Price $5.50 $10 $12 $15 Frequency (weeks) 1 2 3 4 Weekly Sales 6,600 3,900 3,200 1,500 OHaganBooks.com originally paid Duffin House $20 per copy for the Encyclopaedia Galactica. What is the expected weekly loss from sales of the encyclopædia? Loss per copy sold x Number of copies sold.) (Loss -

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Author:Amos Gilat
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As a promotional gimmick, OHaganBooks.com has been selling copies of Encyclopaedia Galactica at an extremely low price that is changed each week at random in a
nationally televised drawing. The following table gives the frequency with which each price will be chosen and summarizes the anticipated sales.
Price $5.50 $10 $12
$15
Frequency (weeks)
1
2
3
4
Weekly Sales
6,600 3,900 3,200 1,500
OHaganBooks.com originally paid Duffin House $20 per copy for the Encyclopaedia Galactica. What is the expected weekly loss from sales of the encyclopædia?
Loss per copy sold x Number of copies sold.)
(Loss
-
Transcribed Image Text:As a promotional gimmick, OHaganBooks.com has been selling copies of Encyclopaedia Galactica at an extremely low price that is changed each week at random in a nationally televised drawing. The following table gives the frequency with which each price will be chosen and summarizes the anticipated sales. Price $5.50 $10 $12 $15 Frequency (weeks) 1 2 3 4 Weekly Sales 6,600 3,900 3,200 1,500 OHaganBooks.com originally paid Duffin House $20 per copy for the Encyclopaedia Galactica. What is the expected weekly loss from sales of the encyclopædia? Loss per copy sold x Number of copies sold.) (Loss -
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