A lab orders a shipment of 100 frogs each week. Prices for the weekly shipments of frogs follow the distribution below: $$\begin{array} { l | c c c }
\text { Price } & \$ 10.00 & \$ 12.50 & \$ 15.00 \
\hline \text { Probability } & 0.25 & 0.4 & 0.35
\end{array}$$ How much should the lab budget for next yearʹs frog orders assuming this distribution does not
Change? (Hint: Find the expected price and assume 52 weeks per year.)
A)$1275.00
B)$663.00
C)$12.75
D)$3,447,600.00

Question

A lab orders a shipment of 100 frogs each week. Prices for the weekly shipments of frogs follow the distribution below: $$\begin{array} { l | c c c } 
\text { Price } & \$ 10.00 & \$ 12.50 & \$ 15.00 \
\hline \text { Probability } & 0.25 & 0.4 & 0.35
\end{array}$$ How much should the lab budget for next yearʹs frog orders assuming this distribution does not
Change? (Hint: Find the expected price and assume 52 weeks per year.)
A)$1275.00
B)$663.00
C)$12.75
D)$3,447,600.00

Quizplus · Accepted Answer

The Answer of A lab orders a shipment of 100 frogs each week. Prices for the weekly shipments of frogs follow the distribution below: $$\begin{array} { l | c c c } 
\text { Price } & \$ 10.00 & \$ 12.50 & \$ 15.00 \
\hline \text { Probability } & 0.25 & 0.4 & 0.35
\end{array}$$ How much should the lab budget for next yearʹs frog orders assuming this distribution does not
Change? (Hint: Find the expected price and assume 52 weeks per year.)
A)$1275.00
B)$663.00
C)$12.75
D)$3,447,600.00

A Lab Orders a Shipment of 100 Frogs Each Week Price $10.00$12.50$15.00 Probability 0.250.40.35\begin{array} { l | c c c } \text { Price } & \$ 10.00 & \$ 12.50 & \$ 15.00 \\\hline \text { Probability } & 0.25 & 0.4 & 0.35\end{array} Price Probability ​$10.000.25​$12.500.4​$15.000.35​​

A Lab Orders a Shipment of 100 Frogs Each Week $\begin{array} { l | c c c } \text { Price } & \$ 10.00 & \$ 12.50 & \$ 15.00 \\\hline \text { Probability } & 0.25 & 0.4 & 0.35\end{array}$