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Expected value of demand for the carry

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The demand for environmentally friendly carry bags for a manufacturer varies from month to month. Based on the last three years, the probability distribution for the manufacturer's demand are as follows:

Table 2

Demand (000s) 200 300 400 500

P(X) 0.15 0.3 0.4 0.15

The manufacturer relies on the expected value of demand for the carry bags to determine their monthly production. Determine what this amount is.

Reference no: EM132522627

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