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.\[\begin{array}{c|ccc}p(x,y) & y=0 & y=1 & y=2 \\\hlinex=0 & 0.025 & 0.015 & 0.010 \\x=1 & 0.050 & 0.030 & 0.020 \\x=2 & 0.060 & 0.075 & 0.050 \\x=3 & 0.150 & 0.090 & 0.060 \\x=4 & 0.100 & 0.060 & 0.040 \\x=5 & 0.050 & 0.030 & 0.085 \\\end{array}\]Compute the expected revenue from a single trip. (Round your answer to two decimal places.)\$ [ ]Need Help?- **Read It** (button)**Explanation:**This table represents the joint probability distribution of the number of cars $ X $ and the number of buses $ Y $ carried on a single trip by a ferry. Each cell in the table provides the probability of a specific combination of $ X $ cars and $ Y $ buses occurring.To compute the expected revenue from a single trip, multiply each possible revenue outcome by its corresponding probability and sum the results. The revenue for each combination is calculated by using the formula:\[\text{Revenue} = 3X + 10Y\]where $ 3X $ is the total revenue from cars and $ 10Y $ is the total revenue from buses. Then, compute the expected value with:\[\text{Expected Revenue} = \sum p(x,y) \times (3X + 10Y)\] Fill in the expected revenue calculation to get the final result.

Given X: No.of cars carried on a single trip Y: No.of buses carried on a single trip Toll for…

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) 1. 2 0.025 0.015 0.010 1 0.050 0.030 0.020 0.060 0.075 0.050 0.150 0.090 0.060 4 0.100 0.060 0.040 5 0.050 0.030 0.085 Compute the expected revenue from a single trip. (Round your answer to two decimal places.) Need Help? Read It

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) 1. 2 0.025 0.015 0.010 1 0.050 0.030 0.020 0.060 0.075 0.050 0.150 0.090 0.060 4 0.100 0.060 0.040 5 0.050 0.030 0.085 Compute the expected revenue from a single trip. (Round your answer to two decimal places.) Need Help? Read It

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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