Question: A consultant is beginning work on three projects The expected
A consultant is beginning work on three projects. The expected profits from these projects are $50,000, $72,000, and $40,000. The associated standard deviations are $10,000, $12,000, and $9,000. Assuming independence of outcomes, find the mean and standard deviation of the consultant's total profit from these three projects.
Answer to relevant QuestionsA consultant has three sources of income-from teaching short courses, from selling computer software, and from advising on projects. His expected annual incomes from these sources are $20,000, $25,000, and $15,000, and the ...Prairie Flower Cereal has annual sales revenue of $400,000,000. George Severn, a 58-year-old senior vice president, is responsible for production and sales of Nougy 93 Fruity cereal. Daily production in cases is normally ...At the beginning of winter, a homeowner estimates that the probability is 0.4 that his total heating bill for the three winter months will be less than $380. He also estimates that the probability is 0.6 that the total bill ...A pizza delivery service delivers to a campus dormitory. Delivery times follow a normal distribution with a mean of 20 minutes and a standard deviation of 4 minutes. a. What is the probability that a delivery will take ...It is estimated that times to completion for major league baseball games follow a normal distribution with a mean of 132 minutes and a standard deviation of 12 minutes. a. What proportion of all games last between 120 ...
Post your question