Question

For a dealer in a consignment of raincoats, the probability of getting a profit of Rs
1500 is 0.6, the probability of getting a loss is 0.3 & the probability of getting no
profit or no loss is 0.1. The mean profit of the dealer is
a) 300
b) 500
c) 600
d) 900​

Answer 1

Answer:

itz option c)

hope this will helps u...be happy.....

Answer 2

Answer:

The correct answer to the given question is Option(c)600

Step-by-step explanation:

Given,

For a dealer in a consignment of raincoats, the probability of getting a profit of Rs1500 is 0.6, the probability of getting a loss is 0.3 & the probability of getting no profit or no loss is 0.1. We need to find the mean profit.

Step-1:

Probability of getting a profit=0.6

Probability of getting a loss=0.3

Probability of getting no loss or profit=0.1

For $X_{i}$ = Rs 1500,

$P_{i}$ = 0.6

For $X_{i}$ = Rs 1000

$P_{i}$ = 0.3

Step-2:

Mean profit= μ = ∑ XP(x)

μ = $(P_{i}X_{i} )_{1} +(P_{i} X_{i})_{2}$

μ=1500×0.6+(-1000×0.3)         {- sign is used to indicate a loss}

μ=900-300

μ=600

Therefore the mean profit of the dealer is Rs.600

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