The Probability Distribution for the Daily Sales at Michael's Co

question 7

Multiple Choice

The probability distribution for the daily sales at Michael's Co.is given below. $\begin{array}{cc}\text { Daily Sales } & \\\text { (In } \$ 1,000 \text { s) } & \text { Probability } \\40 & 0.1 \\50 & 0.4 \\60 & 0.3 \\70 & 0.2\end{array}$
The probability of having sales of no more than $60,000 is

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Definitions:

Merchandising Company

A business that purchases finished goods for resale in order to earn a profit, without transforming these goods.

Wholesale Parts Company

A business entity that specializes in purchasing and selling automotive, machinery, or electronic parts in large quantities at lower prices, primarily to retailers or repair shops rather than end consumers.

Candy Store

A retail establishment specializing in the sale of candies, chocolates, and often other sorts of confections and sweets.

Moving Company

A business that provides services to transport furniture, equipment, and other belongings from one location to another.