A gas station earns $3.10 in revenue for each gallon of regular gas it sells, $3.40 for each gallon of midgrade gas, and $3.90 for each gallon of remium gas. Let X1, X2, and X3 denote the number of gallons of regular, midgrade, and premium gasoline sold in a day. Assume 1,X2, and X3have means µ̟ = 1600, µz = 400, andµ3 = 300, and standard deviations o, = 160, ơ2 = 90, and 0z = 50, respectively. hen the daily revenue can be expressed as R = 3.10X, + 3.40X2 + 3.90X3. Find the mean daily revenue, that is find E (R). Assuming X1,X2, andX3 are independent, find the standard deviation of the daily revenue, ơr. Round to two decimal places. Assuming X1,X2, andX3 are independent and normally distributed with the respective means and standard deviations given above, find probability that the daily revenue exceeds $7,000. a. b. с.
A gas station earns $3.10 in revenue for each gallon of regular gas it sells, $3.40 for each gallon of midgrade gas, and $3.90 for each gallon of remium gas. Let X1, X2, and X3 denote the number of gallons of regular, midgrade, and premium gasoline sold in a day. Assume 1,X2, and X3have means µ̟ = 1600, µz = 400, andµ3 = 300, and standard deviations o, = 160, ơ2 = 90, and 0z = 50, respectively. hen the daily revenue can be expressed as R = 3.10X, + 3.40X2 + 3.90X3. Find the mean daily revenue, that is find E (R). Assuming X1,X2, andX3 are independent, find the standard deviation of the daily revenue, ơr. Round to two decimal places. Assuming X1,X2, andX3 are independent and normally distributed with the respective means and standard deviations given above, find probability that the daily revenue exceeds $7,000. a. b. с.
MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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Transcribed Image Text:3. A gas station earns $3.10 in revenue for each gallon of regular gas it sells, $3.40 for each gallon of midgrade gas, and $3.90 for each gallon of
premium gas. Let X1, X2, and X3 denote the number of gallons of regular, midgrade, and premium gasoline sold in a day. Assume
X1, X2, and X3 have means µ1
Then the daily revenue can be expressed as R = 3.10X, + 3.40X2 + 3.90X3.
1600, µ2 =
400, аnduз
= 300, and standard deviations o, =
160, o2
%3D 90, аnd
03
50, respectively.
Find the mean daily revenue, that is find E(R).
Assuming X1, X2, andX3 are independent, find the standard deviation of the daily revenue, oR. Round to two decimal places.
Assuming X1, X2, andX3 are independent and normally distributed with the respective means and standard deviations given above, find the
probability that the daily revenue exceeds $7,000.
а.
b.
с.
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