Statistic

Mamma Temte bakes six pies a day that cost $2 each to produce. On 15% of the days, she sells only two pies. On 27% of the days, she sells 4 pies, and on the remaining 58% of the days, she sells all six pies. If Mamma Temte sells her pies for $4 each, what is her expected profit for a day's worth of pies? ( Assume that

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  1. 2pies *15% +4pies * 27% + 6 pies *58
    2(.15)+4(.27)+ 6(.58) = 4.86 pies

    Profit = $4(4.86) - $2(6)
    Profit = $19.44 - $12 = $ 7.44

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