Is this a discrete probability distribution

Assignment Help Business Economics
Reference no: EM132170670

The Pizza Palace offers three sizes of cola-small, medium, and large-to go with its pizza. The colas are sold for $0.80, $0.90, and $1.20, respectively. Thirty percent of the orders are for small, 50% are for medium, and 20 % are for the large sizes. Organize the size of the cola and the probability of a sale into a probability distribution.

a) Is this a discrete probability distribution? Indicate why or why not.

b) Compute the mean amount charged for a cola.

c) What is the variance in the amount charged for cola? 

d) What is the standard deviation?

Reference no: EM132170670

Questions Cloud

Describe how you might implement the non - local gotos : Using knowledge about the implementation of structured exceptions, describe how you might implement the non - local gotos of Pascal.
Transforming economic resources into desirable output : How does the "invisible hand" operate and why do market economies usually perform a better job than command economies at efficiently transforming economic
Display an image of a robot near the left side of a web page : Display an image of a robot near the left side of a web page. The image can be any graphics file you find on the web or create yourself.
Create a football team using the players : Create a football team using the players above use the football team instance (object) to display the information requested in the lab.
Is this a discrete probability distribution : a) Is this a discrete probability distribution? Indicate why or why not. b) Compute the mean amount charged for a cola.
Implement a method string insert that returns a string : Using java We wish to implement a method String insert(char c, String s) that returns a string with c inserted in the correct position in already sorted String.
Currency management and business strategy : Explain the implications of the global monetary system for currency management and business strategy
Critically evaluate the resources and capabilities : Strategic International Business Management (RKC) - Critically evaluate the resources and capabilities of Lidland the competitive implications
Create a dfa that accepts l1 by toggling : Create a DFA that accepts ! L1 by toggling all the final and non-final states in M1. Save this DFA in a file called M3.

Reviews

Write a Review

Business Economics Questions & Answers

  How many excess rooms are there in the community

Hotel X believes that there is an opportunity to build a profitable hotel in City XYZ but they are not sure whether to go ahead with the project. They have asked your group for advice. After some research you have the following information. Currently..

  What is the fed goal in using countercyclical policy

If there is a negative price shock, what will be the effect of countercyclical monetary policy on output and inflation. When will these effects occurred if there are time lags. What is the fed's goal in using countercyclical policy?

  Employees a holiday bonus

The president of a growing engineering firm wishes to give each of 20 employees a holiday bonus. How much needs to be deposited each month for a year at a 12% nominal rate, compounded monthly, so that each employee will receive a $2,500 bonus?

  Q1 in a perfectly competitive firm when you have a table

q1. in a perfectly competitive firm when you have a table which gives quantity cost total costs explain how can you

  Explaining trade between developed-developing countries

Suppose someone stated that the Heckscher-Ohlin model is best-suited for explaining trade between developed countries and developing countries, while newer theories such as those of Linder and Krugman are best-suited for explaining trade among develo..

  Collusion never results in benefits for the participants

Collusion never results in benefits for the participants. Its overriding goal is to enhance competition and thereby increase profits. Collusion is legal in the U S. The greater the number of firms the less difficult it is to maintain a collusion. Col..

  Explain what occurs when a new technology makes another one

explain what occurs when a new technology makes another one obsolete in terms of economic profit. consider firm a to be

  Optimal number of bran muffins to sell in a single package

Conclude the optimal number of bran muffins to sell in a single package also the optimal package price. Elucidate how all step by step calculations to arrive at solution.

  Describes third-worldism as an automatic resistance

Halle describes “Third-worldism” as an automatic resistance to change among poorer countries to proposals that come from richer countries. What could be done to overcome this distrust?

  Equilibrium rental rate of capital and equilibrium wage

Suppose an economy’s production possibilities are represented by the function Y = A K L where Y represents total output (i.e GDP), K is capital, L is labor, and A is total factor productivity (TFP) (aka efficiency or productivity parameter). Calculat..

  An aggregate supply curve represents relationship between

An aggregate supply curve represents the relationship between the:

  What will happen to equilibrium market price and quantity

You are a builder of fiberglass boats in very competitive markets. Fiberglass is derived from crude oil which has recently risen in price. Using diagrams, show what happens to the cost curves of your firm and to the market supply curve due to the inc..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd