A baker is deciding how many batches of muffins to make to sell in his bakery. He wants to make enough to sell every one and no fewer. Through observation, the baker has established a probability distribution. x P(x) 1 0.10 2 0.30 3 0.40 4 0.20 What is the probability the baker will sell exactly one batch

Step-by-step explanation:

Given

Required

Determine the probability of selling exactly 1 batch

This probability is represented with

From the table:

When x = 1; P(x) = 0.10

Hence:

In other words, the probability of selling exactly 1 is 0.10

this is the formula: v = the value of investment at the end of the time period

p = the principal amount (the initial amount invested)

r = the annual interest rate

n = the annual frequency of compounding (how many times a year interest is added)

t = the number of years the money is invested

^ means raise to the power of