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Question
The demand for a product varies from month to month. Based on the past year's data, the following probability distribution shows MNM company's monthly demand.| x | f(x) |
| Unit Demand | Probability |
| 0 | 0.10 |
| 1,000 | 0.10 |
| 2,000 | 0.30 |
| 3,000 | 0.40 |
| 4,000 | 0.10 |
a. Determine the expected number of units demanded per month.
b. Each unit produced costs the company $8.00, and is sold for $10.00. How much will the company gain or lose in a month if they stock the expected number of units demanded, but sell 2000 units?
Answer
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