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

question 38

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 your expected profit when Design B is chosen?

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Definitions:

Ultraviolet Sun Radiation

A type of electromagnetic radiation emitted by the sun that has shorter wavelengths than visible light, can cause skin damage, and is instrumental in the production of vitamin D in the skin.

Free Hands

The freedom or capacity to act or operate without constraint or interference.

Visual Acuity

The clarity of vision or the sharpness of eyesight, measured as the ability to discern letters or numbers at a standardized distance.

Bipedalism

The ability to walk upright on two legs, a key distinguishing feature of humans and our ancestors.