What is the expected profit-what is the probability of loss

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Reference no: EM131121344

A consumer electronics firm produces a line of battery rechargers for cell phones. The following distributions apply:

Unit price: triangular with a minimum of $18.95, most likely value of $24.95, and maximum of $26.95

Unit cost: uniform with a minimum of $12.00 and a maximum of $15.00

Quantity sold: 10,000 – 250*Unit price, plus a random term given by a normal distribution with a mean of 0 and a standard deviation of 10

Fixed costs: normal with a mean of $30,000 and a standard deviation of $5,000

A) What is the expected profit?

B) What is the probability of a loss?

C) What is the maximum loss?

Reference no: EM131121344

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