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CHECK YOUR UNDERSTANDING A large auto dealership keeps track of sales and lease agreements made during each hour of the day. Let X = the number of cars sold and Y = the number of cars leased during the first hour of business on a randomly selected Friday. Based on previous records, the prob- ability distributions of X and Y are as follows: Cars sold x;: 1 2 3 Probability p;: 0.3 0.4 0.2 0.1 Mean: µx = 1.1 Standard deviation: ox = 0.943 Cars leased y;: 1 2 Probability p: 0.1 0.4 0.5 Mean: µy = 0.7 Standard deviation: oy = 0.64 Define D = X - Y. Assume that X and Y are independent. 1. Find and interpret µp- 2. Compute op. Show your work. 3. The dealership's manager receives a $500 bonus for each car sold and a $300 bonus for each car leased. Find the mean and standard deviation of the difference in the manager's bonus for cars sold and leased. Show your work.

CHECK YOUR UNDERSTANDING A large auto dealership keeps track of sales and lease agreements made during each hour of the day. Let X = the number of cars sold and Y = the number of cars leased during the first hour of business on a randomly selected Friday. Based on previous records, the prob- ability distributions of X and Y are as follows: Cars sold x;: 1 2 3 Probability p;: 0.3 0.4 0.2 0.1 Mean: µx = 1.1 Standard deviation: ox = 0.943 Cars leased y;: 1 2 Probability p: 0.1 0.4 0.5 Mean: µy = 0.7 Standard deviation: oy = 0.64 Define D = X - Y. Assume that X and Y are independent. 1. Find and interpret µp- 2. Compute op. Show your work. 3. The dealership's manager receives a $500 bonus for each car sold and a $300 bonus for each car leased. Find the mean and standard deviation of the difference in the manager's bonus for cars sold and leased. Show your work.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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CHECK YOUR UNDERSTANDING A large auto dealership keeps track of sales and lease agreements made during each hour of the day. Let X = the number of cars sold and Y = the number of cars leased during the first hour of business on a randomly selected Friday. Based on previous records, the prob- ability distributions of X and Y are as follows: Cars sold x;: 1 2 3 Probability p;: 0.3 0.4 0.2 0.1 Mean: ux = 1.1 Standard deviation: ox 0.943 Cars leased Yi: 1 2 Probability p;: 0.4 0.5 0.1 Mean: µy 0.7 Standard deviation: oy = 0.64 Define D = X – Y. Assume that X and Y are independent. 1. Find and interpret µp. work. 2. Compute Op. Show your 3. The dealership's manager receives a $500 bonus for each car sold and a $300 bonus for each car leased. Find the mean and standard deviation of the difference in the manager's bonus for cars sold and leased. Show your work.
Transcribed Image Text:CHECK YOUR UNDERSTANDING A large auto dealership keeps track of sales and lease agreements made during each hour of the day. Let X = the number of cars sold and Y = the number of cars leased during the first hour of business on a randomly selected Friday. Based on previous records, the prob- ability distributions of X and Y are as follows: Cars sold x;: 1 2 3 Probability p;: 0.3 0.4 0.2 0.1 Mean: ux = 1.1 Standard deviation: ox 0.943 Cars leased Yi: 1 2 Probability p;: 0.4 0.5 0.1 Mean: µy 0.7 Standard deviation: oy = 0.64 Define D = X – Y. Assume that X and Y are independent. 1. Find and interpret µp. work. 2. Compute Op. Show your 3. The dealership's manager receives a $500 bonus for each car sold and a $300 bonus for each car leased. Find the mean and standard deviation of the difference in the manager's bonus for cars sold and leased. Show your work.
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