Question

A computer store has purchased three computers of a certain type at $500 apiece. It will sell them for $1000 apiece.
The manufacturer has agreed to repurchase any computers still unsold after a specified period at $200 apiece.
Let X denote the number of computers sold, and suppose that p(0) = .1, p(1) = .2, p(2) = .3 and p(3) = .4. Find the
expected profit.

Answer 1

Answer:

Sorry bro I don't know the answer

Sorry to disturb you

Answer 2

Given :  A computer store has purchased three computers of a certain type at $500 apiece.

It will sell them for $1000 a piece.

The manufacturer has agreed to repurchase any computers still unsold after a specified period at $200 apiece.

 X denote the number of computers sold, and suppose that

p(0) = .1, p(1) = .2, p(2) = .3 and p(3) = .4.

To Find : the expected profit.

Solution:

Profit for 1 computer sold  1000 - 500 = 500 $

Loss for 1 computer unsold  =  500 - 200 = 300 $

300$ loss = - 300 $ Profit

Computer purchased   3

Sold X         unsold       Net profit E(X)                

0                     3            0*500 + 3*(-300) = -900

1                      2            1 * 500 + 2(-300) = -100

2                     1            2*500 + 1(-300)  = 700

3                     0          3*500 + 0(-300) = 1500

Expected Value  =  ∑ ( probability  * Value )

 ∑ P(x).E(x)    

the expected profit

= -900 * 0.1  + (-300) * 0.2  + 700 * 0.3 + 1500 * 0.4

= -90 - 60  + 210  + 600

= 660

the expected profit is $ 660

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