STATISTICS BUSN-5760-Two different designs on a new line of winter
January 10th, 2018
Two different designs on a new line of winter coat for the coming winter are available for your manufacturing plants. Your profits (in thousands of dollars) will depend on the taste of the consumers when winter arrives. The probability of the three possible different taste of the consumers and the corresponding profits are presented in the following table.Probability Taste Design A Design B0.2 more conservative 180 5200.5 no change 230 3100.3 more liberal 350 270Referring to the above table, what is the expected profit if you increase the shift of your production lines and choose to produce both designs? Please show all steps.