Mathematics, 20.09.2020 14:01 Kianna000
Marketing estimates that a new instrument for the analysis of soil samples will be very successful, moderately successful, or unsuccessful, with probabilities 0.3, 0.4, and 0.3, respectively. The yearly revenues associated with a very successful, moderately, or unsuccessful product are $10 million, $5 million, and $1 million, respectively. Let the random variable X denote the yearly revenue of the product.
Required:
Determine the probability mass function of X. Round your answers to one decimal place (e. g. 98.7).
Answers: 1
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Marketing estimates that a new instrument for the analysis of soil samples will be very successful,...
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