Develop the cumulative distribution table and the corresponding random numbers
A newsboy sells newspapers and his goal is to maximize profit. He kept a record of his sales for 125 days with the following result:
Newspapers demand per day Number
of days
15 10
16 20
17 42
18 31
19 12
20 10
Total 125
His ordering policy is to order an amount each day that is equal to the previous day's demand.
A newspaper costs the carrier 50 cents and he sells it for $1.00. Unsold papers are returned and he receives 25 cents (for a loss of 25 cents).
Newspapers demanded
per day Number of Days Probability Cumulative Probability
15 10
16 20
17 42
18 31
19 12
20 10
Total
Answer:
Newspapers demanded per day Number of days Pr Cum Pr.
15 10 0.08 0.08
16 20 0.16 0.24
17 42 0.336 0.58
18 31 0.248 0.82
19 12 0.096 0.92
20 10 0.08 1.00
Total 125
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