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Roger Hunt intends to purchase one of two car dealerships currently for sale in a certain city. Records obtained from each of the two dealers reveal that their weekly volume of sales, with corresponding probabilities, are as follows. Dahl Motors Cars Sold/Week 5 8 9 10 11 12 Probability 0.05 0.09 0.14 0.24 0.18 0.14 0.11 0.05 Farthington Auto Sales Cars Sold/Week Probability 5 9 10 0.08 0.21 0.31 0.24 0.10 0.06 The average profit per car at Dahl Motors is $546, and the average profit per car at Farthington Auto Sales is $659. (a) Find the average number of cars sold each week at each dealership. Dahl cars Farthington cars (b) If Roger's objective is to purchase the dealership that generates the higher weekly profit, which dealership should he purchase? (Compare the expected weekly profit for each dealership.) The expected weekly profit from Dahl Motors is $ . The expected weekly profit from Farthington Auto Sales is $ Therefore, Roger should purchase Farthington Auto Sales v.

Roger Hunt intends to purchase one of two car dealerships currently for sale in a certain city. Records obtained from each of the two dealers reveal that their weekly volume of sales, with corresponding probabilities, are as follows. Dahl Motors Cars Sold/Week 5 8 9 10 11 12 Probability 0.05 0.09 0.14 0.24 0.18 0.14 0.11 0.05 Farthington Auto Sales Cars Sold/Week Probability 5 9 10 0.08 0.21 0.31 0.24 0.10 0.06 The average profit per car at Dahl Motors is $546, and the average profit per car at Farthington Auto Sales is $659. (a) Find the average number of cars sold each week at each dealership. Dahl cars Farthington cars (b) If Roger's objective is to purchase the dealership that generates the higher weekly profit, which dealership should he purchase? (Compare the expected weekly profit for each dealership.) The expected weekly profit from Dahl Motors is $ . The expected weekly profit from Farthington Auto Sales is $ Therefore, Roger should purchase Farthington Auto Sales v.

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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Roger Hunt intends to purchase one of two car dealerships currently for sale in a certain city. Records obtained from each of the two dealers reveal that their weekly volume of sales, with corresponding probabilities, are as follows. Dahl Motors Cars Sold/Week Probability 7 8. 10 11 12 0.05 0.09 0.14 0.24 0.18 0.14 0.11 0.05 Farthington Auto Sales Cars Sold/Week 7 8 10 Probability 0.08 0.21 0.31 0.24 0.10 0.06 The average profit per car at Dahl Motors is $546, and the average profit per car at Farthington Auto Sales is $659. (a) Find the average number of cars sold each week at each dealership. Dahl cars Farthington cars (b) If Roger's objective is to purchase the dealership that generates the higher weekly profit, which dealership should he purchase? (Compare the expected weekly profit for each dealership.) The expected weekly profit from Dahl Motors is $ . The expected weekly profit from Farthington Auto Sales is $ . Therefore, Roger should purchase Farthington Auto Sales v
Transcribed Image Text:Roger Hunt intends to purchase one of two car dealerships currently for sale in a certain city. Records obtained from each of the two dealers reveal that their weekly volume of sales, with corresponding probabilities, are as follows. Dahl Motors Cars Sold/Week Probability 7 8. 10 11 12 0.05 0.09 0.14 0.24 0.18 0.14 0.11 0.05 Farthington Auto Sales Cars Sold/Week 7 8 10 Probability 0.08 0.21 0.31 0.24 0.10 0.06 The average profit per car at Dahl Motors is $546, and the average profit per car at Farthington Auto Sales is $659. (a) Find the average number of cars sold each week at each dealership. Dahl cars Farthington cars (b) If Roger's objective is to purchase the dealership that generates the higher weekly profit, which dealership should he purchase? (Compare the expected weekly profit for each dealership.) The expected weekly profit from Dahl Motors is $ . The expected weekly profit from Farthington Auto Sales is $ . Therefore, Roger should purchase Farthington Auto Sales v
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