(1) The table below isa probability distribution of potential quantity of sales ofGourmet sausages during a game. John Bull has to pay a concessionfee of $200 to receive a permit to sell sausages at the stadium.Gourmet sausages can be bought at wholesale for $2.00 and sold inthe stadium for $3.50 each. Unsold sausages cannot be returned.Given the probability distribution:
- How many sausages shouldJohn Bull expect to sell?
- How many sausages shouldJohn Bull purchase? Gourmet sausages can only be purchased inbatches of 50 units as indicated in the probabilitydistribution.
SALES | Probability |
100 | 0.05 |
150 | 0.06 |
200 | 0.10 |
250 | 0.20 |
300 | 0.25 |
350 | 0.30 |
400 | 0.04 |
