A Local Bakery Has Determined a Probability Distribution for the Number

question 34

Multiple Choice

A local bakery has determined a probability distribution for the number of cheesecakes that they sell in a givenday. The distribution is as follows: $$\begin{array} { l | c c c c c } \text { Number sold in a day } & 0 & 5 & 10 & 15 & 20 \\\hline \text { Prob (Number sold) } & 0.07 & 0.1 & 0.22 & 0.23 & 0.38\end{array}$$ Find the number of cheesecakes that this local bakery expects to sell in a day.

• A) 13.75
• B) 13.82
• C) 14.1
• D) 10

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Definitions:

Consumer Incomes

The total amount of income received by consumers, influencing their purchasing power and demand for goods and services.

Inferior Good

A type of good for which demand decreases as the income of the consumer increases, contrasting with normal goods.

Substitute

A good or service that can be used in place of another good or service, often due to similarities in features or functions.

Expensive

Describing an item or service that has a high cost or price relative to its perceived value or compared to other options.