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The number of customers buying a cooked breakfast at a high-street cafe on a weekday morning is a random variable X with mean 24 and variance 36. As a loss leader customers to also partake of its other offerings the cafe charges £3.50 per breakfast and has fixed breakfast-specific daily costs (ingredients, labour) of f105. Let Y be the cafe's daily loss on breakfasts, in pounds, where a product sold at a loss to attract Y = 105 3.5X. What are the mean and standard deviation of this loss?

The number of customers buying a cooked breakfast at a high-street cafe on a weekday morning is a random variable X with mean 24 and variance 36. As a loss leader customers to also partake of its other offerings the cafe charges £3.50 per breakfast and has fixed breakfast-specific daily costs (ingredients, labour) of f105. Let Y be the cafe's daily loss on breakfasts, in pounds, where a product sold at a loss to attract Y = 105 3.5X. What are the mean and standard deviation of this loss?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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The number of customers buying a cooked breakfast at a high-street cafe on a weekday morning is a random variable X with mean 24 and variance 36. As a loss leader customers to also partake of its other offerings the cafe charges £3.50 per breakfast and has fixed breakfast-specific daily costs (ingredients, labour) of f105. Let Y be the cafe's daily loss on breakfasts, in pounds, where a product sold at a loss to attract Y = 105 3.5X. What are the mean and standard deviation of this loss?
Transcribed Image Text:The number of customers buying a cooked breakfast at a high-street cafe on a weekday morning is a random variable X with mean 24 and variance 36. As a loss leader customers to also partake of its other offerings the cafe charges £3.50 per breakfast and has fixed breakfast-specific daily costs (ingredients, labour) of f105. Let Y be the cafe's daily loss on breakfasts, in pounds, where a product sold at a loss to attract Y = 105 3.5X. What are the mean and standard deviation of this loss?
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