Find the expected weekly profit

Assignment Help Basic Statistics

Reference no: EM133760730

Question 1. An automobile salesman estimates that the number of automobiles X sold each week follows the following probability distribution: Number of automobiles sold per week | Probability 0 0,06 1 0,13 2 0,37 3 0,25 4 0,19 a) If his weekly salary Y is $50 plus a commission of $100 per automobile sold, what weekly salary can he expect?

b) Suppose that the profit from the sale of autornobiles is a random variable U given by the function U = 10X? - 40. Find the expected weekly profit.

c) The car seller also sells trucks. According to the estimated number of trucks sold each week is a random variable V whose probability distribution is given by the table: Number of automobiles sold per week | Probability 0 0,30 1 0,55 2 0,08 3 0,05 4 0,02 How many vehicles (cars and trucks) can he expect to sell in any given week?

Reference no: EM133760730

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