The probability distribution for the daily sales at Michael's Co. is given below. The probability of having sales of no more than $60,000 is
A) 0.7.
B) 0.2.
C) 0.8.
D) 0.5.

Question

The probability distribution for the daily sales at Michael's Co. is given below.  ​ The probability of having sales of no more than $60,000 is
A) 0.7. 
B) 0.2. 
C) 0.8. 
D) 0.5.

Quizplus · Accepted Answer

To find the probability of having sales of no more than $60,000, we add up the probabilities of the first three outcomes (since they are all less than or equal to $60,000). This gives us:

0.2 + 0.3 + 0.3 = 0.8

Therefore, the probability of having sales of no more than $60,000 is 0.8.

The Probability Distribution for the Daily Sales at Michael's Co