A lab orders a shipment of 100 rats a​ week, 52 weeks a​ year, for experiments that the lab conducts. Prices for each weekly shipment of rat

Question

A lab orders a shipment of 100 rats a​ week, 52 weeks a​ year, for experiments that the lab conducts. Prices for each weekly shipment of rats follow the distribution below. How much should the lab budget for next​ year’s rat orders assuming this distribution does not change.​ (Hint: find the expected​ price.)

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Raelynn 23 mins 2021-09-15T23:14:10+00:00 1 Answer 0

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    2021-09-15T23:15:50+00:00

    Answer:

    Then this is the expected price for the  weekly shipment of rats =13.25

    Step-by-step explanation:

    Suppose the price for the shipment of rats are as follow

    price 10 12.50 15

    and probability may be

    0.2  0.3  0.5

    then the expected value is equal to

    =10* 0.2 + 12.50 *0.3 + 15 *0.5

    =13.25

    then this is the expected price for the  weekly shipment of rats

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