Mamma Temte bakes six pies each day at a cost of $2 each. On 39% of the days she sells only two pies. On 38% of the days, she sells 4 pies, and on the remaining 23% of the days, she sells all six pies. If Mama Temte sells her pies for $4 each, what is her expected profit for a day's worth of pies? [Assume that any leftover pies are given away.]
A) $2.72
B) $14.72
C) -$8.00
D) -$8.32

Question

Quizplus · Accepted Answer

The expected profit is calculated by considering the probability of each sales scenario and the corresponding profit. The expected profit is $2.72.

Mamma Temte Bakes Six Pies Each Day at a Cost