consumer electronics store stocks four alarm clock radios. If it has fewer than four clock radios available at the end of a week, the store restocks the item to bring the in-stock level up to four. If weekly demand is greater than the four units in stock, the store loses sales. The radio sells for $27 and costs the store $14. 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? The expected weekly demand is 3.783.78. (Type an integer or a decimal. Do not round.) b. What is the probability that weekly demand will be greater than the number of available radios? The probability is 0.220.22. (Type an integer or a decimal. Do not round.) c. What is the expected weekly profit from the sale of the alarm clock radio? (Remember: There are only four clock radios available in any week to meet demand.) The expected weekly profit is $nothing. (Round to the nearest cent as needed.) d. On average, how much profit is lost each week because the radio is not available when demanded? The expected weekly profit lost is? Weekly_Demand Probability 0 0.03 0 1 0.03 0.03 2 0.11 0.22 3 0.2 0.6 4 0.41 1.64 5 0.09 0.45 6 0.07 0.42 7 0.06 0.42 3.78

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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consumer electronics store stocks

four

alarm clock radios. If it has fewer than

four

clock radios available at the end of a week, the store restocks the item to bring the in-stock level up to

four.

If weekly demand is greater than the

four

units in stock, the store loses sales. The radio sells for

$27

and costs the store

$14.

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?

The expected weekly demand is

3.783.78.

(Type an integer or a decimal. Do not round.)

b. What is the probability that weekly demand will be greater than the number of available radios?

The probability is

0.220.22.

(Type an integer or a decimal. Do not round.)

c. What is the expected weekly profit from the sale of the alarm clock radio? (Remember: There are only

four

clock radios available in any week to meet demand.)

The expected weekly profit is

$nothing.

(Round to the nearest cent as needed.)

d. On average, how much profit is lost each week because the radio is not available when demanded? The expected weekly profit lost is?

Weekly_Demand	Probability
0	0.03	0
1	0.03	0.03
2	0.11	0.22
3	0.2	0.6
4	0.41	1.64
5	0.09	0.45
6	0.07	0.42
7	0.06	0.42
		3.78

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