. Continuation. In the context of the preceding exercise, suppose the revenue from each sale is r, and the cost associated with making n sales is n k=1 Yk, where Y k is the cost to make the kth sale....

. Continuation. In the context of the preceding exercise, suppose the revenue from each sale is r, and the cost associated with making n sales is n k=1 Yk, where Yk
is the cost to make the kth sale. Assume Y1, Y2,... are i.i.d. with mean μ and variance σ2, and the Yk
are independent of Λ and the number of sales N. The net revenue from the N sales is


May 07, 2022
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