Each month, a convenience store starts with four copies of the magazine, Worm Digest Monthly. Let...

Each month, a convenience store starts with four copies of the magazine, Worm Digest Monthly. Let X be the number of customers coming into the store who want to buy a copy of WDM. The distribution of X is shown in the table below.

x	0	1	2	3	4	5 or more
p(x)	0.10	0.20	0.30	0.20	0.15	0.05

What is the probability that the store will sell all four copies of WDM?
What is the expectation of Y = the number of copies of WDM sold by the store?
The store pays $3 for each copy, sells copies for $6, and sells unsold copies back to the publisher for $1.50. What is the expectation of the monthly net sales due to WDM in the store?

Expert Solution

orchestra answered 2 years ago

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