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As a manufacturer of a flu vaccine, you must decide how many doses of vaccinations to make. You know the following
probability distribution describes the distribution of demand for vaccination: there is a chance demand will be 10 million, a
chance that demand will be 14 million claim, a chance that demand will be 19 million, and otherwise, demand will be
24 million. What is the expected value of demand for vaccinations? (please express your answer in millions and use 2 decimal
places, eg, if your answer is then please write that as 11.560 )

Ask by Herrera Willis. in the United States
Jan 24,2025

Solución de inteligencia artificial de Upstudy

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The expected demand for vaccinations is 15.27 million doses.

Solución

To calculate the expected value of demand for vaccinations, we’ll use the formula:
Given the demand probabilities:
  • 10 million doses with a 42% probability.
  • 14 million doses with a 20% probability.
  • 19 million doses with a 17% probability.
  • 24 million doses with the remaining probability.
First, determine the probability for the 24 million demand:
Now, calculate the expected value:
Answer:
15.27

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Bonus Knowledge

To find the expected value of the demand for vaccinations, you can use the formula for expected value:
Where is the demand and is the probability of that demand.
Given data:
  • million with a probability of
  • million with a probability of
  • million with a probability of
  • million with a probability of (since the remaining probability, implies it is )
Calculating the expected value:
Thus, the expected value of demand for vaccinations is 10.470 million.

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