A company makes electronic gadgets. One out of every 20 gadgets is faulty, but the company doesn’t know which ones are faulty until a buyer complains. Suppose the company makes a $8 profit on the sale of any working gadget, but suffers a loss of for every faulty gadget because they have to repair the unit. What is the expected profit or loss for every batch of 20 gadgets sold?
A company makes electronic gadgets. One out of every 20 gadgets is faulty, but the company doesn’t know which ones are faulty until a buyer complains. Suppose the company makes a $8 profit on the sale of any working gadget, but suffers a loss of for every faulty gadget because they have to repair the unit. What is the expected profit or loss for every batch of 20 gadgets sold?
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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A company makes electronic gadgets. One out of every 20 gadgets is faulty, but the company doesn’t know which ones are faulty until a buyer complains. Suppose the company makes a $8 profit on the sale of any working gadget, but suffers a loss of for every faulty gadget because they have to repair the unit. What is the expected profit or loss for every batch of 20 gadgets sold?
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