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A sales agent is provided a $50 commission in addition to her salary for each new energy-efficient convection oven she sells during a one-month introductory period. Based upon the response to the convection oven when introduced in other geographic areas, the distribution of daily sales x of the convection oven is defined as follows:
x 0 1 2 3 4
p(x) .80 .10 .05 .03 .02

Find the expected daily sales of convection ovens?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9494145

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