# A farmer has 100 lb of apples and 50 lb of potatoes for sale. The market price

## Question:

a) Define your random variables, and use them to express the farmer’s net income.

b) Find the mean of the net income.

c) Find the standard deviation of the net income.

d) Do you need to make any assumptions in calculating the mean? How about the standard deviation?

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**Related Book For**

## Business Statistics

**ISBN:** 9780321925831

3rd Edition

**Authors:** Norean Sharpe, Richard Veaux, Paul Velleman