Find the expected value and variance of c

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Reference no: EM131197145

The length of time X to complete a certain key task in house construction is exponentially distributed random variable with a mean of 10 hours. The cost C of completing this task is related to square of the time to completion by the formula

C = 100 + 40X + 3X2

a Find the expected value and variance of C.

b Would you expect C to exceed 2,000 very often?

Reference no: EM131197145

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