[mizz_chrissy]

Monthly sales of a certain product, recorded to the nearest thousand are believed to follow the following probability distribution. Suppose the company has a fixed monthly production cost of $8,000 and each item brings $2:
X P(x)
5,000 0.2
6,000 0.3
7,000 0.2
8,000 0.2
9,000 0.1

A. Verify that this [P(x)] is a probability distribution
B. Find the cumulative distribution function (cdf) F(x).
C. Find the expected monthly sales ($). Can be done two ways!
D. Find the variance, standard deviation and coefficient of variation of monthly sales.

[lyleberger]

First make a general listing of your goods or services, input the sales price next to each and make an estimate of how much you will sell. Don't be too liberal or conservative with your estimate. Vistaprint Coupons