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

Previous Q& A

  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

  Problem related to confidence interval of the true mean

A random sample of 10 shafts has an average diameter of 0.2545 inches. a) Construct a 99% confidence interval of the true mean

  Existence of god and religion

Is proof for existence of God necessary? Which argument for the existence of God is strongest? Why? Discuss the foundations of the universe and from where did the universe emerge?

  Risk factors for obesity

A analyzer measured BMI in 12 patients who are free of diabetes and participating in a study of risk factors for obesity and found a mean BMI of 31.7 with a standard deviation of 5.9.

  What was fans angular acceleration

A 1700 kg car travelling at a speed of 15m/s skids to a halt on wet concrete where f_k =.5. How long is the cars skid marks.

  Computing probability-sample mean

A normal population has a mean of 60 and a standard deviation of 3. You select a sample of 36. Compute the probability the sample mean is (Round z values to 2 decimal places and final answers to 4 decimal places):

  Effect of an acidic fluid on enzymatic activity

Develop an experiment in which you will test the effect of an acidic fluid on enzymatic activity. To complete this assignment, it may be useful for you to review the Scientific Method Tutorial.


Write a Review


Similar Q& A

  Probability of choosing home security

What is the probability all three of the selected homes have a security system?

  Ceo of the organization needs to forcast the proportion

To forcast the sample size within 0.02 with 90 percent confidence. The CEO of the organization needs to forcast the proportion of Canadians who own their house.

  Confidence interval for the mean scores

Below are scores for 10 randomly selected students on each exam. 95% confidence interval for the mean scores on?

  Developing project network using aoa

Developing project network using AOA that determines completion times.

  Conditional probabilities of an event

The first unit produced after the calibration effort to be found to be defective. What is the probability that machine is in adjustment?

  Probability values based on normal distribution

Probability values based on normal distribution - old exit exam followed a normal distribution

  Finding total cost-total revenue and profit

For monthly volume of 300 tables, find out total cost, total revenue and profit.

  Find the probability based on addition rule

Probability based on addition rule - Find the probability that a randomly chosen sold automobile from this sample is silver or an SUV?

  Classification of anova

In which category is ANOVA properly classified?

  Estimating sample size for population mean

We want to estimate the population mean within 5, with a 99% confidence level. The population std dev is estimated to be 15.  How large is the required sample size?

  Find at least two of them would agree with them

Of the nine members of the board of trustees of a college, five agree with president on a certain issue. The president selects three trustees at random and asks for their opinions. What is the probability that at least two of them would agree with..

  Estimating simple linear regression equation

A sample of twenty automobiles was taken, and the miles per gallon (MPG), horsepower, and total weight were recorded. Develop a linear regression model to predict MPG using horsepower as the only independent variable.  Develop another model with weig..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd