Answer:
1.5
Step-by-step explanation:
The question is incomplete due to the probability distribution table, investigating you can find it so I will attach it.
Having the table, we need to find the mean of the probability distribution, which is defined as the sum of the product of probability and value of random distribution, that is:
M = Sum (xi) * P (xi)
We replace:
M = 0.5 * 0.07 + 1 * 0.2 + 1.5 * 0.46 + 2 * 0.2 + 2.5 * 0.07
M = 1.5
Therefore, the mean of the given table is 1.5
Answer:
Thus, the coffee shop is willing to supply 6 pounds per week at a price of $4 per pound.
Step-by-step explanation:
We are given the following information in the question:
The marginal price per pound (in dollars) is given by:
where x is the supply in pounds.
The coffee shop is willing to supply 9 pounds per week at a price of $7 per pound.
Thus, we are given that
P(9) = 7
Putting the values, we get,
Now, we have to find how many pounds it would be willing to supply at a price of $4 per pound.
P(x) = 4
Thus, the coffee shop is willing to supply 6 pounds per week at a price of $4 per pound.
