Homework Help is Here – Start Your Trial Now!
Math
Probability
Consider a small ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below. p(x,y) 0 2 0.025 0.015 0.010 0.050 0.030 0.020 0.050 0.075 0.050 0.150 0.090 0.060 0.100 0.060 0.040 0.050 0.030 0.095 Compute the expected revenue from a single trip. (Round your answer to two decimal places.) $ X y 1 0 1 2 3 4 5

Consider a small ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below. p(x,y) 0 2 0.025 0.015 0.010 0.050 0.030 0.020 0.050 0.075 0.050 0.150 0.090 0.060 0.100 0.060 0.040 0.050 0.030 0.095 Compute the expected revenue from a single trip. (Round your answer to two decimal places.) $ X y 1 0 1 2 3 4 5

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...
See similar textbooks
icon
Related questions
Question
Consider a small ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below. y 0 1 0.025 0.015 0.050 0.030 0.050 0.075 0.150 0.090 0.100 0.060 0.050 0.030 0.095 Compute the expected revenue from a single trip. (Round your answer to two decimal places.) LtA p(x,y) X 0 1 2 3 4 5 2 0.010 0.020 0.050 0.060 0.040
Transcribed Image Text:Consider a small ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below. y 0 1 0.025 0.015 0.050 0.030 0.050 0.075 0.150 0.090 0.100 0.060 0.050 0.030 0.095 Compute the expected revenue from a single trip. (Round your answer to two decimal places.) LtA p(x,y) X 0 1 2 3 4 5 2 0.010 0.020 0.050 0.060 0.040
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability
A First Course in Probability
Probability
ISBN:
9780321794772
Author:
Sheldon Ross
Publisher:
PEARSON
SEE MORE TEXTBOOKS