The amount of milk that the Am

The amount of milk that the American Cookie Company sells in agiven week is random. Suppose the milk sells for \$2.00 per cup andit costs the store \$1.50 per cup. The following describes thedistribution of demand for milk in a one week period. There is aprobability of 0.14 that the store will sell 100 cups of milk;there is a probability of 0.2 that the store will sell 150 cups ofmilk; there is a probability of 0.34 that the store will sell 170cups of milk; otherwise, the store will sell 220 cups of milk. Whatis the expected number of cups of milk the store will sell in agiven week? (please express your answer using 2 decimal places)

x                    p                       xp

100              0.14                     14

150             0.20                     30

170               0.34                  57.8

220 1-(0.14+0.20+0.34) = 0.32   70.4

——————————————————–

E (X) = 172.20

So,

Expected number of cups = 172.20

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