Unil-Trax publishers allows its sales team to buy and sell shares that pay out $
ID: 1200595 • Letter: U
Question
Unil-Trax publishers allows its sales team to buy and sell shares that pay out $1 only if the sales in the future fall without a certain range. Suppose that, currently, shares for sales between 1,000 textbooks and 2,000 textbooks are selling for 10 cents each. Shares for sales between 2,000 and 3,000 textbooks are selling for 30 cents each. Shares for sales between 3,000 and 4,000 textbooks are selling for 40 cents each, Based on this information, what is the probability of Uni-Trax publishers selling between 2,000 and 4,000 textbooks? 10% 70% 40% 30%Explanation / Answer
Ans is 70% since the probability between 2000 and 3000 is 0.3 and the probabability between 3000 and 4000 is 0.4.
Probability of choosing between 2000-4000=Probability of choosing 2000-3000+ Probability of choosing between 3000-4000
=0.3+0.4
=0.7
=70%
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