Question: Exercise 26 introduced random variables X and Y, the number of cars and buses, respectively, carried by a ferry on a single trip. The joint

Exercise 26 introduced random variables X and Y, the number of cars and buses, respectively, carried by a ferry on a single trip. The joint pmf of X and Y is given in the table in Exercise 7. It is readily verified that X and Y are independent.
a. Compute the expected value, variance, and standard deviation of the total number of vehicles on a single trip.
b. If each car is charged $3 and each bus $10, compute the expected value, variance, and standard deviation of the revenue resulting from a single trip.

Step by Step Solution

★★★★★

3.40 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a The marginal pmfs of X and Y are given in the solution to ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1172-M-S-D-R-V(1204).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

The random variables X and Y in Exercise 2, with variances found in Section 7.2, Exercise 10. For the following joint distributions, find the probabilities for the random variable X - Y (the...

The random variables X and Y in Exercise 3, with variances found in Section 7.2, Exercise 11. For the following joint distributions, find the probabilities for the random variable X - Y (the...

The random variables X and Y in Exercise 4. For the following joint distributions, find the probabilities for the random variable X - Y (the difference), and check that E(X - Y) = E(X) - E(Y) and...

solve these practice problems The relative conductivity of a semiconductor device is determined by the amount of impurity "doped" into the device during its manufacture. A silicon diode to be used...

solve these problems The relative conductivity of a semiconductor device is determined by the amount of impurity "doped" into the device during its manufacture. A silicon diode to be used for a...

30. Exercise 22 in Chapter 5 introduced random variables X and Y, the number of cars and buses, respectively, carried by a ferry on a single trip. The joint pmf of X and Y is given in the table in...

solve these problems The difference between the number of customers in line at the express checkout and the number in line at the superexpress checkout in Exercise 3 is X, - X2 Calculate the expected...

solve the question The relative conductivity of a semiconductor device is determined by the amount of impurity "doped" into the device during its manufacture. A silicon diode to be used for a...

Given the following holding-period returns, Month Sugita Corp. Market 1 2.2 % 1.0 % 2 1.0 4.0 3 1.0 3.0 4 1.0 1.0 5 7.0 6.0 6 7.0 2.0 LOADING... , compute the average returns and the standard...

Domicile, Inc., a household products chain, reported a prior period adjustment in 2010. An accounting error caused net income of 2009 to be overstated by $16 million. Retained earnings at December...

PERT, Program Evaluation and Review Technique, is a method of planning, replanning, and progress evaluation in order to exercise greater control over any major program, project, job, or task in...

What is the purpose of a scope statement? ____________________________________________________________

The target thickness for silicon wafers used in a type of integrated circuit is 245 m. A sample of 50 wafers is obtained and the thickness of each one is determined, resulting in a sample mean...

In an experiment designed to measure the time necessary for an inspectors eyes to become used to the reduced amount of light necessary for penetrant inspection, the sample average time for n = 9...

A sample of 12 radon detectors of a certain type was selected, and each was exposed to 100 pCi/L of radon. The resulting readings were as follows: a. Does this data suggest that the population mean...

According to an article at africageographic.com there are many unexpected uses for elephant waste. But how much waste do elephants produce per day? Studies show that the distribution of amount of...

A magazine reported that 24% of people go to the theatre at least once a 1 point year. A survey was taken of 750 people and it was found that 123 of them had visited the theatre in the past year....

The balance sheet shows a total of noncallable $45 million LTD with a coupon rate of 7% and a yield to maturity of 6%. This debt currently has a market value of 50 million. The balance sheet slso...