Answered

Find expert answers and community support for all your questions on IDNLearn.com. Our experts provide prompt and accurate answers to help you make informed decisions on any topic.

Consider a small ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below.
y
p(x,y) 0 1 2
x 0 0.025 0.015 0.010
1 0.050 0.030 0.020
2 0.115 0.075 0.050
3 0.150 0.090 0.060
4 0.100 0.060 0.040
Compute the expected revenue from a single trip. (Round your answer to two decimal places.)

Sagot :

Akiran007idn

Answer:

Expected revenue from the single trip is $ 13.14

Step-by-step explanation:

                              y

p(x,y)                   0               1                                 2                g(x)

x    0           0.025              0.015                       0.010            0.05

1                  0.050            0.030                        0.020           0.1  

2                   0.115             0.075                        0.050           0.24

3                  0.150              0.090                      0.060             0.3

4                   0.100             0.060                     0.040              0.2

h(y)              0.325              0.27                       0.18  

E (x+Y) = E(X) +E(Y)

E(X)= ∑ xi g(x)i

       = ( 0*0.05) + (1*0.1) + (2* 0.24) + (3*0.3) + (4*0.2)

        = 0 + 0.1+ 0.48 + 0.9+0.8

        =2.28

E(Y)= ∑yi h(y)

      = (0* 0.325) + (1*0.27) + (2*0.18)    

       = 0 +0.27+ 0.36

        = 0.63

E (x+Y) = E(X) +E(Y)

             = 2.28 + 0.63

                = 2.91

But the equation is 3x+ 10y

E(3x+ 10y)= 3E(x) + 10 E(y)

                   = 3(2.28) + 10 (0.63)

                       = 6.84 +6.3

                         = 13.14

Expected revenue from the single trip is $ 13.14

We appreciate your participation in this forum. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. Thank you for visiting IDNLearn.com. We’re here to provide accurate and reliable answers, so visit us again soon.