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Pablo is thinking of opening a pizza stall in an upcoming local carnival. Based on past experience, he estimates the probability distribution of the...
Probability
0.03
0.18
0.21
0.26
0.14
0.11
0.07
Pablo sells a pizza at a price of $12. His costs include a fixed cost of $35 for renting a pizza oven and the cost of raw materials for preparing each pizza is $5.
(a) Calculate the probability of selling more than 22 pizzas in a day.
(2 marks)
(b) What is the probability that Pablo will make a profit of more than $100 in a day?
(3 marks)
Question 02 (5 marks)
This question has three parts. Attempt all of them.
GDP data (in billion USD) for eight OECD countries across 3 consecutive years are recorded in the following table (you will find the same data in STA510 Data1.xlsx)
