It is readily verified that X and Y are independent. (a) Compute the expected value, variance, and standard deviation of the total number of vehicles on a single trip. (Round your standard deviation to two decimal places.) expected value vehidles variance standard deviation vehicles (b) If each car is charged $3 and each bus $10, compute the expected value (in $), variance, and standard deviation (in $) of the revenue resulting from a single trip. (Round your standard deviation to two decimal places.) expected value variance standard deviation

It is readily verified that X and Y are independent. (a) Compute the expected value, variance, and standard deviation of the total number of vehicles on a single trip. (Round your standard deviation to two decimal places.) expected value vehidles variance standard deviation vehicles (b) If each car is charged $3 and each bus $10, compute the expected value (in $), variance, and standard deviation (in $) of the revenue resulting from a single trip. (Round your standard deviation to two decimal places.) expected value variance standard deviation

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

Similar questions

Pax World Balanced is a highly respected, socially responsible mutual fund of stocks and bonds. Vanguard Balanced Index is another highly regarded fund that represents the entire U.S. stock and bond market (an index fund). The mean and standard deviation of annualized percent returns are shown below. The annualized mean and standard deviation are for a recent 10-years period.†. If x represents return and s represents risk, then explain why the coefficient of variation can be taken to represent risk per unit of return. From this point of view, which fund appears to be better? Explain. A. Since the CV is s/s2 we can say that the CV represents the risk per unit of return; the Pax fund appears to be better because the CV is smaller. B. Since the CV is s/s2 we can say that the CV represents the risk per unit of return; the Vanguard fund appears to be better because the CV is smaller. C. Since the CV is s/x we can say that the CV represents the risk per unit of return; the Pax fund…
Consider the following set of data. (21, 9), (26, 48), (56, 31), (77, 22), (109, 63), (115, 7)(a) Calculate the covariance of the set of data. (Give your answer correct to two decimal places.)(b) Calculate the standard deviation of the six x-values and the standard deviation of the six y-values. (Give your answers correct to three decimal places.) Sx = Sy = (c) Calculate r, the coefficient of linear correlation, for the data in part (a). (Give your answer correct to two decimal places.)
A fitness center bought a new exercise machine called the Mountain Climber. They decided to keep track of how many people used the machine over a 3-hour period. Here X is the number of people who used the machine. X 0 1 2 3 4 PX 0.2 0.2 0.1 0.4 0.1 Find the mean,variance and standard deviation
The results of a search to find the least expensive round-trip flights to Atlanta and Salt Lake City from 14 major U.S. cities are shown in the following table. The departure date was June 20, 2012, and the return date was June 27, 2012. Round-Trip Cost ($) Departure City Atlanta Salt Lake City Cincinnati 341.10 569.10 New York 321.60 354.60 Chicago 290.60 465.60 Denver 338.60 218.60 Los Angeles 360.60 312.60 Seattle 384.60 298.60 Detroit 310.60 472.60 Philadelphia 416.60 617.40 Washington, D.C. 294.60 514.60 Miami 250.60 522.20 San Francisco 538.60 380.60 Las Vegas 456.60 160.60 Phoenix 358.60 266.60 Dallas 332.90 457.60 (a) Compute the mean price for a round-trip flight into Atlanta and the mean price for a round-trip flight into Salt Lake City. (Round your answers to two decimal places.) Atlanta $ $ Salt Lake City Is Atlanta less expensive to fly into than Salt Lake City? If so, what could explain this difference? O Yes, Atlanta is generally closer than Salt Lake City to the…
If the mean of a frequency distribution is 100 and the coefficient of variation is 45%, then what is the value of the variance? 1. 2025 2. 450 3. 45 4. 4.5
Exercise 6. Regression Fallacy. Historically, scores on the two midterms had a correlation of 0.48. Suppose that Jeri scored 2.1 standard deviations below the mean on the first midterm. (a) How many standard deviations [above or below?] the mean would you predict for her second midterm?
Which of the following is a true statement? A. The expected value is the most frequently occurring value of the random variable. B. Variance is always >=0 C. Variance can be negative D. F(x)=P(X=x)
Consider the following set of data. (22, 8), (31, 48), (61, 34), (79, 24), (107, 61), (116, 14)(a) Calculate the covariance of the set of data. (Give your answer correct to two decimal places.)(b) Calculate the standard deviation of the six x-values and the standard deviation of the six y-values. (Give your answers correct to three decimal places.) sx = sy = (c) Calculate r, the coefficient of linear correlation, for the data in part (a). (Give your answer correct to two decimal places.)
Determine if the following statements are true or false. a. Jane took a sample of n = 100 observations from a population with mean and standard deviation. Mike also took a sample of n = 200 observations from the same population. Then, Mike’s sample mean will be closer to the true population mean than Jane’s sample. b. Jane took a sample of n = 100 observations from a population with mean and standard deviation. Mike also took a sample of n = 200 observations from a population with mean and standard deviation 2. Then, the sample mean from Mike’s sample is more likely to be close to the true mean than the sample mean from Jane’s sample. That is, the probability that X is between 90% and 110% of mean is higher for Mike’s sample than for Jane’s sample.
C. Atlantic Video is planning to add the new Marvel movie to their collection, and they predict that this will double their demand (i.e. new arrival rate is 60 customers every hour) and halve the standard deviation of the inter-arrival times. However, they want to keep the average waiting time of customers in line the same as before. Assume that the coefficient of variation for the check-out times does not change. Please answer the following questions. 1) Does the employee need to work twice as fast? If not, calculate the new service rate. 2) What is the average number of customers in the store?
Accrotime is a manufacturer of quartz crystal watches. Accrotime researchers have shown that the watches have an average life of 36 months before certain electronic components deteriorate, causing the watch to become unreliable. The standard deviation of watch lifetimes is 4 months, and the distribution of lifetimes is normal.