What is the expected value of total profit

Assignment Help Basic Statistics

Reference no: EM1386510

Suppose that Total Revenue = 200Q and Total Cost = 80 + 50Q where Q, the quantity sold, is a random variable with expected value 20 and variance 4.

What is the expected value of total profit?

What is the standard deviation of total profit?

Reference no: EM1386510

Questions Cloud

Find the magnitude of the horizontal component : A 15g rifle bullet traveling 220 m/s buries itself in a 3.5 kg pendulum hanging on a 2.7 m long string, which makes the pendulum swing upward in an arc. Determine the horizontal component of the pendulum's displacement.

Historical development of religious philosophy : Considering the historical development of religious philosophy, whose philosophies do you think most advanced Western religious thought? This is a general question, I have an idea, but need another opinion.

Find the angular frequency in of the combination : Why must a thermom be calibrated? You have a glass bulb thermom with no markings on it, and a second one marked in degrees Celsius. Describe how you would calibrate the unmarked thermom.

Compute approximately the force constant of the spring : Two speakers, one directly behind the other, are each generating a 295-Hz sound wave. What is the smallest separation distance between the speakers that would produce destructive interference at a listener standing in front of them? Take the speed..

What is the expected value of total profit : Suppose that Total Revenue = 200Q and Total Cost = 80 + 50Q where Q, the quantity sold, is a random variable with expected value 20 and variance 4.

Proofs for existence of god : Which of the proofs for the existence of God discussed this week do you find most persuasive? Why? Is proof for God specific to a given religion or does it apply to all religions whether they're monotheistic or polytheistic?

What is the frictional force on the brick : A 67 kg person sits on a 3.5kg chair. Each leg of the chair makes contact with the floor in a circle that is 1.8 cm in diam. Determine the pressure exerted on the floor by each leg of the chair; Assume the weight is evenly distributed.

Variety of environmental conditions : Suppose that you discover a new plant species that seems to survive under a wide variety of environmental conditions. Explain an effective, but low budget approach to discern.

Determining faerytales and religion : Although it is true that primitive religions are bound to the host culture and cannot survive as a whole when exposed to other civilizations and religions

User Account

All Pages