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An Apple Pie Company knows that the number of pies sold each day ...

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An Apple Pie Company knows that the number of pies sold each day varies from day to day. The owner believes that on 50% of the days she sells 100 pies. On another 25% of the days she sells 150 pies, and she sells 200 pies on the remaining 25% of the days. To make sure she has enough product, the owner bakes 200 pies each day at a cost of $2 each. Assume any pies that go unsold are thrown out at the end of the day. If she sells the pies for $3 each, find the probability distribution for her daily profit.

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Statistics: Informed Decisions Using Data

Edition: 5^th

Author: Sullivan

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