A winery is supplied with crushed grapes once a week. If its weekly volume of sales in thousands of gallons is a random variable
with probability density function f (t) = {5 (1 -t)^4 0 < t < 1 0 otherwise what must the capacity of the tank be so that the probability of the supply being exhausted in a given week is 0.01?
1 answer:
You might be interested in
Answer:
The change in revenue from the sale of one more doghouse if 110 doghouses have already been sold is dR/dx=66.67 $/doghouse.
Step-by-step explanation:
We have a revenue function that is:
We have to approximate the change in revenue from the sale of one more doghouse, if 110 doghouses have already been sold.
That is the marginal revenue at x=110.
The marginal revenue is expressed as the first derivative of the revenue.
Then, we calculate the derivative of R:
We then evaluate this marginal revenue at point x=110: