Mamma Temte bakes six pies a day that cost $2 each to produce. On 32% of the days she sells only two pies. On 22% of the days, she sells 4 pies, and on the remaining 46% of the days, she sells all six pies. If Mama Temte sells her pies for $4 each, what is her expected profit for a day's worth of pies?
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Mamma Temte bakes six pies a day that cost $2 each to produce. On 32% of the days she sells only two pies. On 22% of the days, she sells 4 pies, and on the remaining 46% of the days, she sells all six pies. If Mama Temte sells her pies for $4 each, what is her expected profit for a day's worth of pies? [Assume that any leftover pies are given away.]
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
