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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 P(x,y) 1 0.025 0.015 0.010 1 0.050 0.030 0.020 0.075 0.075 0.050 3 0.150 0.090 0.060 4 0.100 0.060 0.040 0.050 0.030 0.070 Compute the expected revenue from a single trip. (Round your answer to two decimal places.)

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 P(x,y) 1 0.025 0.015 0.010 1 0.050 0.030 0.020 0.075 0.075 0.050 3 0.150 0.090 0.060 4 0.100 0.060 0.040 0.050 0.030 0.070 Compute the expected revenue from a single trip. (Round your answer to two decimal places.)

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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Consider a small ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below. y p(x,y) 1 2 0.025 0.015 0.010 1 0.050 0.030 0.020 2 0.075 0.075 0.050 3 0.150 0.090 0.060 4 0.100 0.060 0.040 5 0.050 0.030 0.070 Compute the expected revenue from a single trip. (Round your answer to two decimal places.) 2$
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 $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below. y p(x,y) 1 2 0.025 0.015 0.010 1 0.050 0.030 0.020 2 0.075 0.075 0.050 3 0.150 0.090 0.060 4 0.100 0.060 0.040 5 0.050 0.030 0.070 Compute the expected revenue from a single trip. (Round your answer to two decimal places.) 2$
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