Karen and her sister Tina want to get a pet. However, Karen wants a turtle and Tina wants a dog. Their parents tell them to flip
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Answer:
Probability No. of pies Cost Revenue Profit
0.5 100 500 300 -200
0.25 150 500 450 -50
0.25 200 500 600 100
Step-by-step explanation:
We are given that The owner believes that on 50% of the days she sells 100 pies.
So, Probability of selling 100 pies = 0.5
On another 25% of the days she sells 150 pies
So, Probability of selling 150 pies = 0.25
She sells 200 pies on the remaining 25% of the days
So, Probability of selling 200 pies = 0.25
We are given that the owner bakes 200 pies each day at a cost of $2.50 each.
So, Cost per day =
Probability No. of pies Cost
0.5 100 500
0.25 150 500
0.25 200 500
Now we are given that she sells the pies for $3 each
So, SP of 100 pies =
SP of 150 pies =
SP of 200 pies =
Probability No. of pies Cost Revenue Profit
0.5 100 500 300 -200
0.25 150 500 450 -50
0.25 200 500 600 100