Question

Abakery would like you to recommend how many loves of its famous marble rye bread bake the beginning of the day. Each of costs the bakery 12.00 and can be sold for 16.00. Letowe loves at the end of each day are donated to charity. Research has shown that the probabies for demands of 25, 50, and 75 loves we 35%, 25% and 40 respectively. Make a Mendation for the bakery to bake 25, 50, or 75 leves each moming Find the expected monetary value when baking 25 loves EMV (Type an integer or a decimal)

Answer 1

First question not clearly visible please re-post again

2)

Binomial probability

P(X = r) = nCr * P^r * q^n-r

Given n = 7, p = 0.65 and q = 1-p = 1-0.65 = 0.35

a)

P(X = 2) = 7C2 * 0.65^2 * 0.35^5 = 7!/2!(7−2)! * 0.4225 * 0.0053

P(X = 2) = 0.04660

b)

P(X ≤1) = P(X = 0) + P(X = 1)

P(X = 0) = 7C0 * 0.65^0 * 0.35^7 = 7!/0!(7−0)! * 1 * 0.00064 = 0.00064

P(X = 1) = 7C1 * 0.65^1 * 0.35^6 = 7!/1!(7−1)! * 0.65 * 0.0018 = 0.0084

P(X ≤1) = 0.00064 + 0.0084 = 0.0090

c)

P(X > 5) = P(X = 6)+P(X = 7)

P(X = 6) = 7C6 * 0.65^6 * 0.35^1 = 7!/6!(7−6)! * 0.0754 * 0.35 = 0.1848

P(X = 7) = 7C7 * 0.65^7 * 0.35^0 = 7!/7!(7−7)! * 0.0490 * 1 = 0.0490

P(X > 5) = 0.2338