TABLE 5-8 Two Different Designs on a New Line of Winter Jackets

question 89

Short Answer

TABLE 5-8
Two different designs on a new line of winter jackets for the coming winter are available for your manufacturing plants. Your profit (in thousands of dollars) will depend on the taste of the consumers when winter arrives. The probability of the three possible different tastes of the consumers and the corresponding profits are presented in the following table.

-Referring to Table 5-8, what is the total variance of the profit if you increase the shift of your production lines and choose to produce both designs?

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Definitions:

Taney Court

The period of the Supreme Court of the United States from 1836 to 1864, under Chief Justice Roger B. Taney, noted for its rulings on issues of slavery and states’ rights.

District Courts

The first level of federal courts in the United States which hold trials and judicial proceedings to resolve disputes by applying the law.

Strategic Action

Purposeful steps or decisions taken by individuals or organizations to achieve a specific goal, especially within competitive environments.

Court-Packing Plan

A controversial proposal to increase the number of justices on the U.S. Supreme Court, primarily to change its ideological leaning.