Question

An author receives a contract from a publisher, according to which she is to be paid a fixed sum of $10,000 plus $1.50 for each copy of her book sold. Her uncertainty about total sales of the book can be represented by a random variable with a mean of 30,000 and a standard deviation of 8,000. Find the mean and standard deviation of the total payments she will receive.


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  • CreatedJuly 07, 2015
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