Question: The daily demand for [Ii-components also has a normal distribution with mean 100 and standard deviation 20. The correlation of the demand for the two

The daily demand for [Ii-components also has a normal distribution with mean 100 and standard deviation 20. The correlation of the demand for the two components (or and [3) is 0.5. Let Y denote the number of B -components demanded daily. Then Y = N (100, 202) , and pr = 0.5. Find the covariance between the demands for the two components. Assume the prices are $17/each for the (Jrcomponent and SIS/each for the component. Let R indicate the daily revenue from sales of the two components (a and 3). Find the distribution of R (write the expression for R rst). What is the expected daily revenue from the two products and what is the variance? On a given day, the company must bring in revenue at least $4500 on those two products, to break even for that day. On what percentage of days will the company break even

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