Iron Burr operates a booth which sells specialty merchandise at the State Fair. This year he is planning to sell t-shirts which are inscribed: THE STATE FAIR FOR EVERYONE The price of the t-shirts is $25.00 each. Mr Burr buys plain white t-shirts from a factory at a cost of $864 per gross (144 shirts), with a 3% discount for payment within 10 days, which he always takes. Mr Burr inscribes the design on the t-shirts, himself, and estimates that his labor is worth $4.00 per shirt. Unsold t-shirts are useless, but can be sold to a scrap dealer for $0.16 per pound; there are eight t-shirts in a pound. The number of t-shirts which will be sold at the State Fair is, of course, unknown. But, based on previous experience, Mr Burr estimates that the mean sales are 3 gross, and that the probability of selling more than 3 gross decreases as the quantity increases. Use the following cumulative distribution to determine number of gross of t-shirt that Mr Burr should prepare for the State Fair and the profits excluding Mr Burr's labor. X 1 3 4 5 6. 7 8 9. 10 P(x) 0.050 0.199 0.423 0.647 0.815 0.916 0.966 0.988 0.996 0.999 1.0

Iron Burr operates a booth which sells specialty merchandise at the State Fair. This year he is planning to sell t-shirts which are inscribed: THE STATE FAIR FOR EVERYONE The price of the t-shirts is $25.00 each. Mr Burr buys plain white t-shirts from a factory at a cost of $864 per gross (144 shirts), with a 3% discount for payment within 10 days, which he always takes. Mr Burr inscribes the design on the t-shirts, himself, and estimates that his labor is worth $4.00 per shirt. Unsold t-shirts are useless, but can be sold to a scrap dealer for $0.16 per pound; there are eight t-shirts in a pound. The number of t-shirts which will be sold at the State Fair is, of course, unknown. But, based on previous experience, Mr Burr estimates that the mean sales are 3 gross, and that the probability of selling more than 3 gross decreases as the quantity increases. Use the following cumulative distribution to determine number of gross of t-shirt that Mr Burr should prepare for the State Fair and the profits excluding Mr Burr's labor. X 1 3 4 5 6. 7 8 9. 10 P(x) 0.050 0.199 0.423 0.647 0.815 0.916 0.966 0.988 0.996 0.999 1.0

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Description: Iron Burr operates a booth which sells specialty merchandise at the State Fair. This year he isplanning to sell t-shirts which are inscribed:THE STATE FAIRFOR EVERYONEThe price of the t-shirts is $25.00 each. Mr Burr buys plain white t-shirts from a

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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Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.

Topic Video

Question

100%

Iron Burr operates a booth which sells specialty merchandise at the State Fair. This year he is
planning to sell t-shirts which are inscribed:
THE STATE FAIR
FOR EVERYONE
The price of the t-shirts is $25.00 each. Mr Burr buys plain white t-shirts from a factory at a
cost of $864 per gross (144 shirts), with a 3% discount for payment within 10 days, which he
always takes. Mr Burr inscribes the design on the t-shirts, himself, and estimates that his labor
is worth $4.00 per shirt. Unsold t-shirts are useless, but can be sold to a scrap dealer for $0.16
per pound; there are eight t-shirts in a pound. The number of t-shirts which will be sold at the
State Fair is, of course, unknown. But, based on previous experience, Mr Burr estimates that
the mean sales are 3 gross, and that the probability of selling more than 3 gross decreases as
the quantity increases. Use the following cumulative distribution to determine number of gross
of t-shirt that Mr Burr should prepare for the State Fair and the profits excluding Mr Burr's
labor.
0 1
P(x) 0.050 0.199 0.423 0.647 0.815 0.916 0.966 0.988 0.996 0.999 1.0
2
3
4
5
6 7
8
9
10
X

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