Fill in the blanks: Finicky's Jewelers sells watches for $50 each. During the next month, they estimate that they will sell 150, 250, 350, or 450 watches with respective probabilities of 0.40, 0.35, 0.15, and . (figure it out). They can only buy watches in ots of ten from their dealer. 100, 200, 300, 400, and 500 watches cost $40, 39, 37, 36, and 34 per watch respectively. Every month, Finicky's has a clearance sale and will get rid of any unsold watches for $24 (watches are only in style for a month and so they have to buy the latest model each month). Any customer that comes in during the month to buy a watch, but is unable to, costs Finicky's S6 in lost goodwill. What is the calculated profit/loss if she buys 30 as: Optimist = Pessimist = Realist = Opportunist =
Fill in the blanks: Finicky's Jewelers sells watches for $50 each. During the next month, they estimate that they will sell 150, 250, 350, or 450 watches with respective probabilities of 0.40, 0.35, 0.15, and . (figure it out). They can only buy watches in ots of ten from their dealer. 100, 200, 300, 400, and 500 watches cost $40, 39, 37, 36, and 34 per watch respectively. Every month, Finicky's has a clearance sale and will get rid of any unsold watches for $24 (watches are only in style for a month and so they have to buy the latest model each month). Any customer that comes in during the month to buy a watch, but is unable to, costs Finicky's S6 in lost goodwill. What is the calculated profit/loss if she buys 30 as: Optimist = Pessimist = Realist = Opportunist =
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Fill in the blanks:
Finicky's Jewelers sells watches for $50 each. During the next month, they estimate that they will sell 150, 250, 350,
or 450 watches with respective probabilities of 0.40, 0.35, 0.15, and. (figure it out). They can only buy watches in
lots of ten from their dealer. 100, 200, 300, 400, and 500 watches cost $40, 39, 37, 36, and 34 per watch
respectively. Every month, Finicky's has a clearance sale and will get rid of any unsold watches for $24 (watches are
only in style for a month and so they have to buy the latest model each month). Any customer that comes in during
the month to buy a watch, but is unable to, costs Finicky's S6 in lost goodwill.
What is the calculated profit/loss if she buys 30 as:
Optimist =
Pessimist =
Realist =
OpportunistD
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