each home depot store must decide how much paint


Each Home Depot store must decide how much paint to order each month. From historical records, they know that the amount of paint they sell during May is distributed as follows: there is a 12% chance demand will be 710 gallons, a 20% chance that demand will be 980, a 38% chance that demand will be 1400, and otherwise, demand will be 1800 gallons. What is the expected value of demand for paint? (please express your answer using 2 decimal places).

Request for Solution File

Ask an Expert for Answer!!
Macroeconomics: each home depot store must decide how much paint
Reference No:- TGS0378180

Expected delivery within 24 Hours