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A publishing house is trying to estimate the number of books it will sell based on critical reviews…

Exploring Probability Topics: From Basics to Advanced StrategiesUnderstanding Random Variables and Probability Distributions

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Описание к видео A publishing house is trying to estimate the number of books it will sell based on critical reviews…

A publishing house is trying to estimate the number of books it will sell based on critical reviews: Review Rating Books Sold Probability Excellent 20,000 0.25 Good 12,000 0.50 Poor 5,000 0.25 (a) What is the expected number of books sold? (b) If the profit per book is 4 and the publishing costs are 40,000, what is the expected profit?

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