Question

001 (part 1 of 2) 10.0 points You own a business that sells small aircraft. You currently have 6 potential customers. The list below shows the price per aircraft, the number of aircrafts, and the probability of getting the sale. Cust. Pi Aircraft Prob. 0.80 0.60 0.30 0.90 0.90 0.70 A $37000 в $48000 С S71000 D $43000 E $47000 F $29000 Number of 2 3 2 5 What is your expected income from these six customers? Answer in units of dollars. 002 (part 2 of 2) 10.0 points You just learned that the probability that cus- tomer C will make the purchase has increased to 0.90 What is your expected income now? Answer in units of dollars.

Answer 1

$ 74,000o Income from customer β $. 48000X1 $ 4 80oo Income from customer C= $71 OOOX3 = $ 213, όοο $43000×1 =$43000 Income om customex Income form customer E $47000 × 2 Income fom custex f 29000 x 5 Cutomex oo 21300043000 94o o 4s000 (Income) |フ4000 | 48000 | 21300。 O.3 O- 9

1) We know expecled value s calculated o4 Value S Expe cted $376700 Expeckd Income - 74000 x o-8+ 000 xO 6