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. 20 16 18 0.3 0.4 0.3 p(x) (a) Compute E(X), E(X2), and V(X). ft3 E(X)= E(X²)= 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

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.6: Exponential And Logarithmic Equations
Problem 64E
icon
Related questions
Question
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.
X
E(X)=
E(X²)=
V(x) =
P(x)
16
20
18
0.3 0.4 0.3
(a) Compute E(X), E(X2), and V(X).
ft3
(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. X E(X)= E(X²)= V(x) = P(x) 16 20 18 0.3 0.4 0.3 (a) Compute E(X), E(X2), and V(X). ft3 (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
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Functions and Change: A Modeling Approach to Coll…
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning