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An certain brand of upright freezer is available in three different rated capacities: 16 ft³, 18 ft³, and 20 ft³. Let X = the rated capacity of a freezer of this brand sold at a certain store. Suppose that X has the following pmf. P(x) (a) Compute E(X), E(X²), and V(X). E(X)= | ft3 E(X²) = 16 18 20 0.3 0.4 0.3 V(x) = | (b) If the price of a freezer having capacity X is 64X - 650, what is the expected price paid by the next customer to buy a freezer? $ (c) What is the variance of the price paid by the next customer?

An certain brand of upright freezer is available in three different rated capacities: 16 ft³, 18 ft³, and 20 ft³. Let X = the rated capacity of a freezer of this brand sold at a certain store. Suppose that X has the following pmf. P(x) (a) Compute E(X), E(X²), and V(X). E(X)= | ft3 E(X²) = 16 18 20 0.3 0.4 0.3 V(x) = | (b) If the price of a freezer having capacity X is 64X - 650, what is the expected price paid by the next customer to buy a freezer? $ (c) What is the variance of the price paid by the next customer?

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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An certain brand of upright freezer is available in three different rated capacities: 16 ft³, 18 ft³, and 20 ft³. Let X = the rated capacity of a freezer of this brand sold at a certain store. Suppose that X has the following pmf. P(x) (a) Compute E(X), E(X²), and V(X). E(X)= | ft3 E(X²) = 16 18 20 0.3 0.4 0.3 V(x) = | (b) If the price of a freezer having capacity X is 64X - 650, what is the expected price paid by the next customer to buy a freezer? $ (c) What is the variance of the price paid by the next customer? (d) Suppose that although the rated capacity of a freezer is X, the actual capacity is h(X) = X-0.009x2. What is the expected actual capacity of the freezer purchased by the next customer? (Enter your answer to four decimal places.) ft³
Transcribed Image Text:An certain brand of upright freezer is available in three different rated capacities: 16 ft³, 18 ft³, and 20 ft³. Let X = the rated capacity of a freezer of this brand sold at a certain store. Suppose that X has the following pmf. P(x) (a) Compute E(X), E(X²), and V(X). E(X)= | ft3 E(X²) = 16 18 20 0.3 0.4 0.3 V(x) = | (b) If the price of a freezer having capacity X is 64X - 650, what is the expected price paid by the next customer to buy a freezer? $ (c) What is the variance of the price paid by the next customer? (d) Suppose that although the rated capacity of a freezer is X, the actual capacity is h(X) = X-0.009x2. What is the expected actual capacity of the freezer purchased by the next customer? (Enter your answer to four decimal places.) ft³
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