A food manufacturer uses an extruder (a machine that produces bite-size cookies and snack food) that yields revenue for the firm at a rate of $200 per hour when in operation. However, the extruder breaks down an average of two times every day it operates. If Y denotes the number of breakdowns per day, the daily revenue generated by the machine is R = 1600 50Y 2. Find the expected daily revenue for the extruder.
Econ 225: Ex. You have 12 shirts in your closet. 9 White shirts, 3 Black shirts. Suppose you pick a shirt at random. Put it on, when you get home you take it off and wash it. Suppose you do the same thing the next day, without replacing the first shirt. What is the probability that both shirts you picked out are white Day 1: P(Picking a white shirt)= 9/12 (9 white shirts/ 12 total shirts) Day 2: P(Picking white shirt) = 8/11 (8 White shirts/ 11 total shirts; given that you picked a white shirt on the first day) (Probability of day 1) * (Probability of day 2; Given that day 1’s shirt was white) = (9/12) * (8/11) = .55 Whatever happens on the first day will affect what happens on the second day. It is a dependent probability because day 2 depe
