A gas station earns $3.10 in revenue for each gallon of regular gas it sells, $3.40 for each gallon of midgrade gas, and $3.90 for each gallon of remium gas. Let X1, X2, and X3 denote the number of gallons of regular, midgrade, and premium gasoline sold in a day. Assume 1,X2, and X3have means µ̟ = 1600, µz = 400, andµ3 = 300, and standard deviations o, = 160, ơ2 = 90, and 0z = 50, respectively. hen the daily revenue can be expressed as R = 3.10X, + 3.40X2 + 3.90X3. Find the mean daily revenue, that is find E (R). Assuming X1,X2, andX3 are independent, find the standard deviation of the daily revenue, ơr. Round to two decimal places. Assuming X1,X2, andX3 are independent and normally distributed with the respective means and standard deviations given above, find probability that the daily revenue exceeds $7,000. a. b. с.
A gas station earns $3.10 in revenue for each gallon of regular gas it sells, $3.40 for each gallon of midgrade gas, and $3.90 for each gallon of remium gas. Let X1, X2, and X3 denote the number of gallons of regular, midgrade, and premium gasoline sold in a day. Assume 1,X2, and X3have means µ̟ = 1600, µz = 400, andµ3 = 300, and standard deviations o, = 160, ơ2 = 90, and 0z = 50, respectively. hen the daily revenue can be expressed as R = 3.10X, + 3.40X2 + 3.90X3. Find the mean daily revenue, that is find E (R). Assuming X1,X2, andX3 are independent, find the standard deviation of the daily revenue, ơr. Round to two decimal places. Assuming X1,X2, andX3 are independent and normally distributed with the respective means and standard deviations given above, find probability that the daily revenue exceeds $7,000. a. b. с.
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter12: Quadratic Functions
Section12.8: Joint And Combined Variation
Problem 8P
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