Probability demand distribution

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Reference no: EM13100229

How does one find expected profit from a probability demand distribution?

For example, if revenue for producing one TV set is $5, and cost is $2, while demand is 200 (with a probability of 0.1), what would be the profit from producing 200 TV sets?

In addition, what would the profit be from producing 200 TV sets, with a demand of 300 (with a probability of 0.2)?

Reference no: EM13100229

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