Based on a new technological approach, a manufacturer has developed a color TV set with a 45-in picture tube. The owner of a small retail store estimates that at the selling price of $2,800 the...


Based on a new technological approach, a manufacturer has developed a color TV set with a 45-in picture tube. The owner of a small retail store estimates that at the selling price of $2,800 the probability values associated with selling 2, 3, 4, or 5 sets during the three months of concern are 0.30, 0.40, 0.20, and 0.10, respectively. Based only on these probability values, how many sets should the retailer order for stock, assuming no reorders are possible during the period?




May 26, 2022
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