Problem

Solve the problem.

A lab orders a shipment of frogs each week. Prices for the weekly shipments of frogs follow the distribution below:
\begin{tabular}{|c|c|c|c|}
\hline Price & $\$ 9.00$ & $\$$ & $\$$ \\
& & 11.00 & 15.00 \\
\hline Probability & 0.15 & 0.45 & 0.40 \\
\hline
\end{tabular}

Using this probability model to create a budget for the future, how much should the lab expect the shipments to cost per week?

Answer

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Answer

Therefore, the lab should expect the shipments to cost \(\boxed{12.30}\) per week.

Steps

Step 1 :Calculate the expected cost per week using the formula: \(E = x_1 \cdot p_1 + x_2 \cdot p_2 + x_3 \cdot p_3\)

Step 2 :Substitute the given values: \(E = 9.00 \cdot 0.15 + 11.00 \cdot 0.45 + 15.00 \cdot 0.40\)

Step 3 :Calculate the expression: \(E = 1.35 + 4.95 + 6.00\)

Step 4 :Simplify the expression: \(E = 12.30\)

Step 5 :Therefore, the lab should expect the shipments to cost \(\boxed{12.30}\) per week.

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