Mathematics, 19.01.2021 19:00 merzedes
We are interested in determining the probability that a retail store will meet its daily revenue goal of $100. Analysis of sales history indicates that daily demand, D is random and independent of the demand on other days. Assume D follows the distribution below
P(D=d) =
0.3, d=0
0.3, d=1
0.2, d=2
0.1, d=3
0.1, d=4
Furthermore, due to a complicated discount structure, the shop has determined that their revenue per day can be modeled as R(s) = โ100 cos(20s) + 100 where s is the number of jeans sold that day and R(s) is in dollars. Assume that this retail store will always have enough inventory to meet demand. What is the probability the retail store will generate a revenue of at least 100 dollars?
Answers: 2
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We are interested in determining the probability that a retail store will meet its daily revenue goa...
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