The probability distribution for the daily sales at Michael's Co. is given below. The probability of having sales of at least $50,000 is
A) 0.5
B) 0.10.
C) 0.30.
D) 0.90.

Question

The probability distribution for the daily sales at Michael's Co. is given below.  ​ The probability of having sales of at least $50,000 is
A) 0.5 
B) 0.10. 
C) 0.30. 
D) 0.90.

Quizplus · Accepted Answer

To find the probability of having sales of at least $50,000, we need to add up the probabilities of all outcomes where sales are equal to or greater than $50,000. Looking at the table, we see that the probabilities corresponding to sales of $50,000 or greater are 0.40 + 0.15 + 0.20 + 0.10 = 0.85. Therefore, the probability of having sales of at least $50,000 is 0.85, which is closest to choice D (0.90).

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