TABLE 5-7 Two Different Designs on a New Line of Winter Jackets

question 108

Short Answer

TABLE 5-7
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 5-7, what is the variance of your profit when Design B is chosen?

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Definitions:

Hypergonadism

A condition characterized by excessive activity of the gonads, leading to an overproduction of hormones such as testosterone or estrogen.

Hypothyroidism

A condition in which the thyroid gland doesn't produce enough thyroid hormone, leading to a slowdown in bodily functions.

Myxedema

A severe form of hypothyroidism characterized by swelling of the skin and underlying tissues giving a waxy consistency, most notable in the face.

Basal Metabolic Rate

The speed at which the body consumes energy to support crucial life processes like breathing and staying warm when in a state of rest.