Blossom's Flowers Purchases Roses for Sale for Valentine's Day

question 123

Multiple Choice

Blossom's Flowers purchases roses for sale for Valentine's Day.The roses are purchased for $10 a dozen and are sold for $20 a dozen.Any roses not sold on Valentine's Day can be sold for $5 per dozen.The owner will purchase 1 of 3 amounts of roses for Valentine's Day: 100,200,or 400 dozen roses.The payoff for buying and selling 400 dozen roses at the full price is

• A)$12,000
• B)$6,000
• C)$4,000
• D)It cannot be determined.

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Definitions:

Probability Density Function

A function that describes the likelihood of a continuous random variable to take on a particular value.

Uniform Distribution

A type of probability distribution in which all outcomes are equally likely within a certain interval.

Exponential Probability Distribution

A probability distribution that describes the time between events in a Poisson process, representing the likelihood of time intervals between events.

Continuous Probability Distribution

A mathematical function that describes the probabilities of all possible values in a continuous random variable.