In a large lot of manufactured items, 10% contain exactly one defect and 5% contain more than one defect. If ten items are randomly selected from this lot for sale, the repair cost total Y1 +3Y2, where Y1 denote the number among the ten having one defective and let Y2 denote the number with two or more defects. Find the expected value and variance of the repair cost. Assume that Cov(Y1, Y2) =-0.05.
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
In a large lot of manufactured items, 10% contain exactly one defect and 5% contain more than one defect. If ten items are randomly selected from this lot for sale, the repair cost total
Y1 +3Y2, where Y1 denote the number among the ten having one defective and let Y2 denote the number with two or more defects. Find the
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