Use the Following Two Probability Distributions for Sales of a Firm

question 33

Multiple Choice

Use the following two probability distributions for sales of a firm to answer the following question: $$\begin{array} { c c c } \text { Sales } & \begin{array} { c } \text { Disilibisiont } \\\text { Probabildy }\end{array} & \begin{array} { c } \text { Dilribulion2 } \\\text { Probabilly }\end{array} \\\hline 2,000 & 0.05 & 0.05 \\3,000 & 0.20 & 0.15 \\4,000 & 0.50 & 0.20 \\5,000 & 0.20 & 0.35 \\6,000 & 0.05 & 0.25\end{array}$$ The expect value of sales for Distribution 2 is _____________.

• A)2,500
• B)2,758
• C)2,800
• D)3,000
• E)none of the above

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Definitions:

Automobile Dealerships

Businesses authorized to sell new or used cars and often also offer maintenance services, financing, and vehicle registration assistance.

Negotiation

The process of discussing something with another party in order to reach a mutual agreement.

Purchase Decision

The stage in the buying process where a consumer finalizes their choice among products or services and proceeds with the transaction.

Consumer Purchase Decision

The method in which people choose, buy, utilize, and discard products and services.