The amount of money that Jon can save after working for a summer is a random variable S with a mean of
And a standard deviation of
.After saving this money Jon plans to go on a trip to India.He will change his money into Rupees at an exchange rate of 43 Rupees to one Dollar.This money he will bring to India.When he arrives in India he will buy a used motorbike.The price in India of a motorbike of the type he wants is a random variable B with a mean of
Rupees and a standard deviation of
Rupees .
The amount of money Jon will have left (in Rupees) after changing his savings into Rupees and buying a motorbike in India is a random variable P which can be expressed in terms of S and B as P = 43S - B.
Find expressions for the mean and variance of the random variable P.Assume that Jon's savings and the price of the bike are independent.
A) mean = 43
-
,variance = 1849
-
B) mean = 43
-
,variance = 1849
+
C) mean = 43
+
,variance = 1849
+
D) mean = 43
+
,variance = 43
+
E) mean = 43
-
,variance = 43
+
Correct Answer:
Verified
Q84: The amount of cereal that a manufacturer
Q97: The number of emergency calls received by
Q99: At a furniture factory,tables must be assembled,finished,and
Q101: The amount of money that Maria earns
Q102: The amount of time it takes to
Q104: Janet is planning to rent a booth
Q105: If X and Y are independent random
Q106: The amount of money that Maria earns
Q107: Janet is planning to rent a booth
Q108: The amount of money that Maria earns
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents