The retailer sold each package for $12.59.
2 answers:
You might be interested in
Answer:
zero goats and 120 Ilamas to get profit of $15,120
Step-by-step explanation:
Goats: G
Ilamas: l
Explicit constraints:
2G + 5l ≤ 400
100G+ 80l≤ 13,200
Implicit constraints
G≥0
I≥0
P= 84G+ 126l
See attachment for optimal area
substituting coordinats of optimal region in profit equation to get profit
When G= 132, l=0
P=84(132) + 126(0)
P=11,088
When G=0, l=120
P=84(0)+ 126(120)
P = 15120
When G= 100, l=40
P=84(100)+126(40)
P=13440
Answer:
a) The expected value is given by:
and the variance is given by:
b)
And we can find this probability with the following Excel code:
=1-BINOM.DIST(25,50,0.4,TRUE)
And we got:
c) 1) Random sample (assumed)
2) np= 50*0.4= 20 >10
n(1-p) =50*0.6= 30>10
3) Independence (assumed)
Since the 3 conditions are satisfied we can use the normal approximation:
d)
e)
Step-by-step explanation:
Previous concepts
The binomial distribution is a "DISCRETE probability distribution that summarizes the probability that a value will take one of two independent values under a given set of parameters. The assumptions for the binomial distribution are that there is only one outcome for each trial, each trial has the same probability of success, and each trial is mutually exclusive, or independent of each other".
Let X the random variable of interest, on this case we now that:
The probability mass function for the Binomial distribution is given as:
Where (nCx) means combinatory and it's given by this formula:
Part a
The expected value is given by:
and the variance is given by:
Part b
For this case we want to find this probability:
And we can find this probability with the following Excel code:
=1-BINOM.DIST(25,50,0.4,TRUE)
And we got:
Part c
1) Random sample (assumed)
2) np= 50*0.4= 20 >10
n(1-p) =50*0.6= 30>10
3) Independence (assumed)
Since the 3 conditions are satisfied we can use the normal approximation:
Part d
We want this probability:
Part e
For this case we use the continuity correction and we have this: