/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Q. 6.5 A certain vending machine offers... [FREE SOLUTION] | 91Ó°ÊÓ

91Ó°ÊÓ

A certain vending machine offers 20 -ounce bottles of soda for \(1.50. The number of bottles X bought from the machine on any day is a random variable with mean 50 and standard deviation 15 . Let the random variable Yequal the total revenue from this machine on a randomly selected day. Assume that the machine works properly and that no sodas are stolen from the machine. What are the mean and standard deviation of Y?

a. μY=\)1.50,σY=\(22.50

b. μY=\)1.50,σY=\(33.75

c. μY=\)75,σY=\(18.37

d.localid="1654251787401" μY=\)75,σY=\(22.50

e. μY=\)75,σY=$33.75

Short Answer

Expert verified

(d) The mean and standard deviation of YisμY=$75,σY=$22.50

Step by step solution

01

Given Information

The number of bottles purchased from the machine is X.

The total revenue earned by this machine in a day is Y.

The mean of X=50

X=15is the standard deviation

The cost of a 20-ounce bottle of soda is $1.50.

The following concept was used:

E(aX+b)=aE(X)+bV(aX+b)=a2V(X)

02

Explanation for correct option

Consider that

Y=1.50X

Mean of Y

localid="1654252088340" E(Y)=E(1.50X)E(Y)=$1.50E(X)E(Y)=$1.50×50=$75

Standard deviation of $Y$

Sd(Y)=Sd(1.50X)

Sd(Y)=$1.50Sd(X)

localid="1654252035154" Sd(Y)=$1.50×15=$22.50

So,

μy=75andσy=22.50

Therefore option (d) is the correct option.

03

Explanation for incorrect option

a. The mean and standard deviation ofYwill not be μY=$1.50,σY=$22.50

b. The mean and standard deviation of Y will not be μY=$1.50,σY=$33.75

c. The mean and standard deviation of Y will not be μY=$75,σY=$18.37

e. The mean and standard deviation of Y will not be μY=$75,σY=$33.75

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Over 30 million students worldwide already upgrade their learning with 91Ó°ÊÓ!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

Baby elk Refer to Exercise 77 . Use the binomial probability formula to find P(X = 4) . Interpret this value.

1-in-6 wins Alan decides to use a different strategy for the 1-in-6 wins game of Exercise 90¯. He keeps buying one 20 -ounce bottle of the soda at a time until he gets a winner.

a. Find the probability that he buys exactly 5 bottles.

b. Find the probability that he buys at most 6 bottles. Show your work.

Life insurance If four 21-year-old men are insured, the insurer’s average income is

V=X1+X2+X3+X44=0.25X1+0.25X2+0.25X3+0.25X4

where Xiis the income from insuring one man. Assuming that the amount of income earned on individual policies is independent, find the mean and standard deviation of V. (If you compare with the results of Exercise 57, you should see that averaging over more insured individuals reduces risk.)

Roulette Marti decides to keep placing a 1$ bet on number 15 in consecutive spins of a roulette wheel until she wins. On any spin, there's a 1-in-38 chance that the ball will land in the 15 slot.

a. How many spins do you expect it to take for Marti to win?

b. Would you be surprised if Marti won in 3 or fewer spins? Compute an appropriate probability to support your answer.

Loser buys the pizza leona and Fred are friendly competitors in high school. Both are about to take the ACT college entrance examination, They agree that if one of them scores 5ar more points better than the other, the loser will buy the winner a pizza. Suppose that in fact Fred and Leona have equal ability, so that each score varies Normally with mean 24and standard deviation data-custom-editor="chemistry" 2. (The variation is due to luck in guessing and the accident of the specific questions being familiar to the student.) The two scores are independent. What is the probability that the scores differ by 5or more points in either direction? Follow the four-step process.

See all solutions

Recommended explanations on Math Textbooks

View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.