Question

Q.No.8 Solve the following: (Discrete Probability of Random Variable)
The manager of a production unit wants to change the existing system of
production. It is estimated that profit contribution will be Rs.20,000 if the new
system is successful otherwise will be Rs.9000 only. The probability that the new
system will be successful is 0.6
(a) Calculate the mean profit contribution if the new system is introduced.
(b) What decision manager should take if the present profit contribution is
Rs. 12000?​

Answer 1

Answer:

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