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Let X denote the number of computers sold (X = 0, 1, 2, 3). The probability mass function is p(0) = .1, p(1) = .2, p(2) = .3, and p(3) = .4. Each computer is bought at $500 and will be sold for $1000. Unsold computer will be returned and get $200 back. Let h(X) denote the profit and compute E(h(X)).

Let X denote the number of computers sold (X = 0, 1, 2, 3). The probability mass function is p(0) = .1, p(1) = .2, p(2) = .3, and p(3) = .4. Each computer is bought at $500 and will be sold for $1000. Unsold computer will be returned and get $200 back. Let h(X) denote the profit and compute E(h(X)).

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Let X denote the number of computers sold (X = 0, 1, 2, 3). The probability mass function is p(0) = .1, p(1) = .2, p(2) = .3, and p(3) = .4. Each computer is bought at $500 and will be sold for $1000. Unsold computer will be returned and get $200 back. Let h(X) denote the profit and compute E(h(X)).
Transcribed Image Text:Let X denote the number of computers sold (X = 0, 1, 2, 3). The probability mass function is p(0) = .1, p(1) = .2, p(2) = .3, and p(3) = .4. Each computer is bought at $500 and will be sold for $1000. Unsold computer will be returned and get $200 back. Let h(X) denote the profit and compute E(h(X)).
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