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Mathematics, 16.06.2020 22:57 nkazmirski3229
A car dealership sells 0, 1, or 2 luxury cars on any day. When selling a car, the dealer also tries to persuade the customer to buy an extended warranty for the car. Let X denote the number of luxury cars sold in a given day, and let Y denote the number of extended warranties sold. The joint probability function of X and Y can be given by the following equation.
P(X = 0, Y = 0) =1/6
P(X = 1, Y = 0) =1/12
P(X = 1, Y = 1) =1/6
P(X = 2, Y = 0) =1/12
P(X = 2, Y = 1) =1/3
P(X = 2, Y = 2) =1/6
Required:
Find the mean and variance of X.
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Answers: 2
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A car dealership sells 0, 1, or 2 luxury cars on any day. When selling a car, the dealer also tries...
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