b) A company expects to sell 1000 units per month of a new product but there is uncertainty as to both the unit selling price and the unit variable cost of the product. The following estimates of selling price , variable costs and their related probabilities have been made: Selling price unit variable cost K' per unit probability K' per unit probability 20 25% 8. 20% 25 40% 10 50% 30 35% 12 30%

b) A company expects to sell 1000 units per month of a new product but there is uncertainty as to both the unit selling price and the unit variable cost of the product. The following estimates of selling price , variable costs and their related probabilities have been made: Selling price unit variable cost K' per unit probability K' per unit probability 20 25% 8. 20% 25 40% 10 50% 30 35% 12 30%

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.6: Summarizing Categorical Data

Problem 23PPS

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Question

Please solve very soon completely

b) A company expects to sell 1000 units per month of a new product but there is uncertainty as
to both the unit selling price and the unit variable cost of the product. The following
estimates of selling price , variable costs and their related probabilities have been made:
Selling price
unit variable cost
K' per unit
probability
K' per unit
probability
20
25%
8
20%
25
40%
10
50%
30
35%
12
30%
There are specific fixed costs of K5000 per month expected for the new product. What is the
expected value of the monthly contribution and the probability of the monthly contribution from the
new product exceeding K 13,000?".
00

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