Tamansky Sports Club sells cold sodas at Far East College's home basketball games. In the year 2021, the frequency of distribution of the demand for cups of sodas per day is presented below: (2021 had 360 operating days) Sales Volume in Cups Frequency 48 days 2,000 5,000 80 days 6,000 144 days 8,000 32 days 10,000 16 days Required: Determine next years' estimated daily demand for cups of sodas at Far East College's home games using: a. Deterministic approach (based on most likely event) b. Expected value approach

A First Course in Probability (10th Edition)
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ISBN:9780134753119
Author:Sheldon Ross
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Chapter1: Combinatorial Analysis
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Problem 2. Probability Analysis
Tamansky Sports Club sells cold sodas at Far East College's home basketball games. In the year
2021, the frequency of distribution of the demand for cups of sodas per day is presented below:
(2021 had 360 operating days)
Sales Volume in Cups
Frequency
48 days
2,000
5,000
80 days
6,000
144 days
8,000
32 days
16 days
10,000
Required: Determine next years' estimated daily demand for cups of sodas at Far East College's
home games using:
a. Deterministic approach (based on most likely event)
b. Expected value approach
Transcribed Image Text:Problem 2. Probability Analysis Tamansky Sports Club sells cold sodas at Far East College's home basketball games. In the year 2021, the frequency of distribution of the demand for cups of sodas per day is presented below: (2021 had 360 operating days) Sales Volume in Cups Frequency 48 days 2,000 5,000 80 days 6,000 144 days 8,000 32 days 16 days 10,000 Required: Determine next years' estimated daily demand for cups of sodas at Far East College's home games using: a. Deterministic approach (based on most likely event) b. Expected value approach
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