A marina has two party boats available for customers to rent. Historically, demand for party boats has followed this distribution shown below. The revenue per rental is $400. If a customer wants a party boat and none is available, the store gives a $150 coupon for jet ski rental.
a. What is the expected demand?
b. What is the expected revenue?
c. What is the expected cost?
d. What is the expected profit?

Question

A marina has two party boats available for customers to rent. Historically, demand for party boats has followed this distribution shown below. The revenue per rental is $400. If a customer wants a party boat and none is available, the store gives a $150 coupon for jet ski rental.  
a. What is the expected demand?
b. What is the expected revenue?
c. What is the expected cost?
d. What is the expected profit?

Quizplus · Accepted Answer

The Answer of A marina has two party boats available for customers to rent. Historically, demand for party boats has followed this distribution shown below. The revenue per rental is $400. If a customer wants a party boat and none is available, the store gives a $150 coupon for jet ski rental.  
a. What is the expected demand?
b. What is the expected revenue?
c. What is the expected cost?
d. What is the expected profit?

A Marina Has Two Party Boats Available for Customers to Rent