A pie company bakes 300 pies each day at a cost of $2 each and sells...

A pie company bakes 300 pies each day at a cost of $2 each and sells each for $3; unsold pies are thrown out at the end of the day.
60% of the days company sells 150 pies
25% of the days company sells 250 pies
15% of the days company sells 300 pies
Find the probability distribution for daily profit. Also, find expected profit.

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Expert Solution

orchestra answered 2 years ago

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