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Proportions and Expected Profit

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A company sells packages of tea bags. The number of tea bags per package vary as follows:
Number of tea bags 98 99 101 103
Proportion of packages ?? .40 .30 .20

a. Find the missing proportion.

b. What proportion of the packages contains at least 101 tea bags?

c. Find the mean number of tea bags per package.

d. Tea bags cost 3.2 cents each to produce. Packaging costs 4 cents. Each package of tea bags sold for $4.50. Find the expected profit per package.

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Solution Summary

The solution finds the missing proportion as well as the mean number of tea bags per package.

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A company sells packages of tea bags. The number of tea bags per package vary as follows:
Number of tea bags 98 99 101 103
Proportion of packages ?? .40 .30 .20

a. Find the missing proportion

The four proportions have to add up to 1 (100%). So, you can set up an equation:

?? + 0.40 + 0.30 + 0.20 = 1
?? + 0.90 = 1
?? = 0.10

The missing proportion is ...

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