How much should the lab budget for next year


A lab orders a shipment of 100 mice a week, 52 weeks a year, from a rat supplier for experiments that the lab conducts. Prices for each weekly shipment of rats follows the distribution below $10 with a probability of .45, 12.5 with a probability of .2, $15 with a probability of .35. How much should the lab budget for next year's rat orders assuming the distribution stays the same.

Request for Solution File

Ask an Expert for Answer!!
Basic Statistics: How much should the lab budget for next year
Reference No:- TGS0118367

Expected delivery within 24 Hours