Respuesta :
Answer:
The expected revenue is $37.50 and the variance of the revenue is $4.50.
Step-by-step explanation:
The random variable X is defined as the number of cans of soda sold per day.
The expected number of cans sold per day is:
E (X) = 125
The variance of the number of cans sold per day is:
V (X) = 50
The cost of one can of soda is:
Cost of X = $0.30
The formula to compute the expected revenue is:
[tex]E(R)=Cost\ of\ X\times E(X)[/tex]
The formula to compute the variance of the revenue is:
[tex]V(R)= (Cost\ of\ X)^{2} \times V(X)[/tex]
Compute the expected revenue as follows:
[tex]E(R)=Cost\ of\ X\times E(X)\\= 0.30\times 125\\=37.5[/tex]
Thus, the expected revenue is $37.50.
Compute the variance of the revenue as follows:
[tex]V(R)= (Cost\ of\ X)^{2} \times V(X)\\=(0.30)^{2}\times 50\\=4.5[/tex]
Thus, the variance of the revenue is $4.50.
