Answers
The right answer is option ii) 724.5 and 134.6
To calculate the total annual profit,
P= Total units × profit per unit
To calculate the probabilities of total annual profits;
X= Probability of the profit × probability of the number of units
Formulas for expectation and standard deviation is attached. Please refer to that for all the calculation part.
5 5 1 Quantity X Profit peruni 100 X 5 = 500 Probability o.uxo.35 2. 35 100 16.4 S 7 0.65 too X •Proby 700 0.4 0.65 0,35) 5 125 X 5 : 1625 • Proby 0.
620.35 06 S 125 125 x 7 875 • probe -0.600.65 0.65 7 Probability Total Profit (P) 500 700 625 875 (*) 0.14 0,26 0.21 0.39
Diese prx P2 P x P.X 0.14 0.26 625 0.21 875 0.39 182 131.25 341. 25 (Ep.x 724,5 2 50000 499000 390,625 765,625 px 35,000 127400 82031.25 298593.75 543,025 Expected value of Total annual profit (1) EP.X $724.5 Standard deviation of P square of Variance off reot V Varle Vie)E(P2) - (ECP)] E(P²) EP²x 54 3025 724.5 . ELP) - Vo = 543025 (724.57 181 24.75 Standard Deviation. = 8 124.75 $ 134.6 JVP
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