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    Setting up a probability distribution

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    Fast Service Store has maintained daily sales records on the various size 'Cool Drink' sales. These are shown in the following table:

    'Cool Drink' Price Number Sold
    $0.25 75
    $0.35 120
    $0.50 125
    $0.75 50

    a.Set up a probability distribution for 'Cool Drink' sales.

    b.What is the expected value of this probability distribution?

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    Solution Preview

    Please refer attached file for better clarity of table.


    a. Set up a probability distribution for Cool Drink sales?

    Cool Drink Price Number Sold ...

    Solution Summary

    The solution describes the steps to find out probability distribution in the case. It also calculates expected value of probability distribution.