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Lobsters vary in sizes. The bigger the size, the more valuable the lobster per pound (a 6-pound lobster is more valuable than two 3-pound ones). Lobster merchants will sell entire boatloads for a certain price. The boatload has a mixture of sizes. Suppose the distribution is as follows: x(pound)    P(x)      v(x) ($) 1⁄2                0.1           2 3⁄4                0.1          2.5 1                 0.3          3.0 11⁄4              0.2          3.25 11⁄2              0.2          3.40 13⁄4              0.05        3.60 2                0.05         5.00 What is a fair price for the shipload?

Lobsters vary in sizes. The bigger the size, the more valuable the lobster per pound (a 6-pound lobster is more valuable than two 3-pound ones). Lobster merchants will sell entire boatloads for a certain price. The boatload has a mixture of sizes. Suppose the distribution is as follows: x(pound)    P(x)      v(x) ($) 1⁄2                0.1           2 3⁄4                0.1          2.5 1                 0.3          3.0 11⁄4              0.2          3.25 11⁄2              0.2          3.40 13⁄4              0.05        3.60 2                0.05         5.00 What is a fair price for the shipload?

MATLAB: An Introduction with Applications
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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Lobsters vary in sizes. The bigger the size, the more valuable the lobster per
pound (a 6-pound lobster is more valuable than two 3-pound ones). Lobster merchants
will sell entire boatloads for a certain price. The boatload has a mixture of
sizes. Suppose the distribution is as follows:
x(pound)    P(x)      v(x) ($)
1⁄2                0.1           2
3⁄4                0.1          2.5
1                 0.3          3.0
11⁄4              0.2          3.25
11⁄2              0.2          3.40
13⁄4              0.05        3.60
2                0.05         5.00


What is a fair price for the shipload?

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