A bakerman sells 5 types of cakes. Profit due | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(A) The expected profit per cake is calculated using the formula for the expected value: $E(X) = \sum p_i x_i$.Here,$x_i$ represents the profit for ea

Vedclass · Accepted Answer

Rs $1.725$

Vedclass · Answer

(A) The expected profit per cake is calculated using the formula for the expected value: $E(X) = \sum p_i x_i$.Here,$x_i$ represents the profit for each type of cake and $p_i$ represents the probability (demand) of each type.Given values:$x_1 = 2, p_1 = 0.20$$x_2 = 2.5, p_2 = 0.05$$x_3 = 3, p_3 = 0.10$$x_4 = 1.5, p_4 = 0.50$$x_5 = 1, p_5 = 0.15$Expected Profit $= (2 	imes 0.20) + (2.5 	imes 0.05) + (3 	imes 0.10) + (1.5 	imes 0.50) + (1 	imes 0.15)$$= 0.4 + 0.125 + 0.3 + 0.75 + 0.15$$= 1.725$Therefore,the expected profit per cake is $Rs \ 1.725$.

$X$	$1$	$2$	$3$	$4$
$P(X)$	$\frac{1}{10}$	$\frac{1}{5}$	$\frac{3}{10}$	$\frac{2}{5}$

$X = x_i$	$0$	$1$	$2$	$3$	$4$
$P(X = x_i)$	$0.4$	$0.3$	$0.1$	$0.1$	$0.1$

$A$ bakerman sells $5$ types of cakes. Profit due to sale of each type of cake is respectively $Rs \ 2$,$Rs \ 2.5$,$Rs \ 3$,$Rs \ 1.5$ and $Rs \ 1$. The demands for these cakes are $20 \%$,$5 \%$,$10 \%$,$50 \%$ and $15 \%$ respectively. Then the expected profit per cake is:

Similar Questions

In a book of $500$ pages, it is found that there are $250$ typing errors. Assume that Poisson law holds for the number of errors per page. Then, the probability that a random sample of $2$ pages will contain no error, is:

$A$ biased coin with probability $p, 0 < p < 1,$ of heads is tossed until a head appears for the first time. If the probability that the number of tosses required is even is $\frac{2}{5},$ then $p = $

Find the probability distribution of the number of successes in two tosses of a die,where a success is defined as a number greater than $4$.

For the given probability distribution,find $E(X^2)$.
$X$ $1$ $2$ $3$ $4$
$P(X)$ $\frac{1}{10}$ $\frac{1}{5}$ $\frac{3}{10}$ $\frac{2}{5}$

The probability distribution of a random variable $X$ is given by:
$X = x_i$ $0$ $1$ $2$ $3$ $4$
$P(X = x_i)$ $0.4$ $0.3$ $0.1$ $0.1$ $0.1$

Then the variance of $X$ is:

Vedclass Test Series

Exam Paper Generator

Online Exam Module