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Answer to Question #75622 in Statistics and Probability for belle
Question #75622
It costs a bakery $6 to bake a cake. If it sells on the first day, the bakery charges $15. If it sells on the second day, it charges $9. Otherwise, the cake is thrown out. The chance that a cake will sell on the first day is 65% and the chance that it will sell on the second day is 23%. How much profit (or loss) will the bakery make on each cake?
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Dear Kayla, please you a panel for submitting new questions.
If the bakery is open Tuesday – Sunday and averages selling 50 cakes a weekday and 75 cakes per day on a weekend. What is their expected profit a week?
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