Successive weekly sales, in units of one thousand dollars, have a bivariate normal distribution with common mean

Question:

Successive weekly sales, in units of one thousand dollars, have a bivariate normal distribution with common mean 40, common standard deviation 6, and correlation .6.
(a) Find the probability that the total of the next 2 weeks’ sales exceeds 90.
(b) If the correlation were .2 rather than .6, do you think that this would increase or decrease the answer to (a)? Explain your reasoning.
(c) Repeat (a) when the correlation is .2.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: