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Net profit explained in terms of random variable

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A bicycle shop will offer 2 specially priced children's models at a sidewalk sale. the basic model will sell for $120 and the deluxe model for $150. past experience indicates that sale of the basic model will have a mean of 5.4 bikes and a standard deviation of 1.2. the sale of the deluxe model will have a mean of 3.2 bikes with a standard deviation of 0.8 bikes. the cost of setting up the sidewalk sale is $200.

Whats the net profit explained in terms of random variable, mean and standard deviation of net profit?

Reference no: EM131196282

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