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Archangel Macsika

On the basis of 5 years of data the following probability function for a company’s weekly demand for wool was: Amount of wool (kg) 2500 3500 4500 5500 Probability 0.35 0.45 0.20 0.05 What was the expected weekly demand for wool based on the distribution?

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the expected weekly demand for wool is equal to the expected value:

M(x) = \sum {{x_i}} {p_i} = 2500 \cdot 0.35 + 3500 \cdot 0.45 + 4500 \cdot 0.2 + 5500 \cdot 0.05 = 3625

Answer: 3625 kg

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Question ID: mtid-5-stid-8-sqid-3210-qpid-1909