Stats

Dee's store monthly sales for April, May, June are three independent random variables with means and variances as follow:

April:
Mean: $9500
Variance: $1250

May:
Mean: $7400
Variance: $1425

June:
Mean: $8600
Variance: $1610

a) find the mean and standard deviation of the total sales for the 2nd quarter (3 month period).
-for mean, do you just add the means together and for stdev, do you just add the variance together and square root it?

b) If the store manager is paid by a base monthly salary of $2000 plus 10% of the monthly sales as commission, what is the mean and standard deviation of his monthly salary for May?
-how do you do this part?

  1. 👍 0
  2. 👎 0
  3. 👁 137
asked by Dee

Respond to this Question

First Name

Your Response

Similar Questions

  1. Stats

    Dee's store monthly sales for April, May, June are three independent random variables with means and variances as follow: April: Mean: $9500 Variance: $1250 May: Mean: $7400 Variance: $1425 June: Mean: $8600 Variance: $1610 a)

    asked by Dee on October 29, 2006
  2. probablity

    In this problem, you may find it useful to recall the following fact about Poisson random variables. Let X and Y be two independent Poisson random variables, with means λ1 and λ2, respectively. Then, X+Y is a Poisson random

    asked by Anonymous on December 16, 2018
  3. probablity

    Let X and Y be two independent Poisson random variables, with means λ1 and λ2, respectively. Then, X+Y is a Poisson random variable with mean λ1+λ2. Arguing in a similar way, a Poisson random variable X with parameter t, where

    asked by Anonymous on December 23, 2018
  4. Probability

    Let N,X1,Y1,X2,Y2,… be independent random variables. The random variable N takes positive integer values and has mean a and variance r. The random variables Xi are independent and identically distributed with mean b and variance

    asked by qwerty on April 21, 2015
  5. Probability

    Let N,X1,Y1,X2,Y2,… be independent random variables. The random variable N takes positive integer values and has mean a and variance r. The random variables Xi are independent and identically distributed with mean b and variance

    asked by A on April 20, 2014
  6. Statistics

    Use the following dates to compute the ALOS and median LOS and range. The discharge date is July 2nd (non-leap year). Round the ALOS to one decimal place. Admission Date LOS 1-2 January = 29; February = 28; March = 31; April = 30;

    asked by Anonymous 11/9/13 on November 9, 2013
  7. Math

    A company's sales are seasonal with the peak in mid-December and the lowest point in mid-June. The company makes $110000 in sales in December, and only $30000 in June. A) Find a trigonometric function, s=f(t) , representing sales

    asked by Sarah on November 7, 2014
  8. probability

    Let N,X1,Y1,X2,Y2,… be independent random variables. The random variable N takes positive integer values and has mean a and variance r. The random variables Xi are independent and identically distributed with mean b and variance

    asked by juanpro on April 22, 2014
  9. Finance

    The prince Albert Corporation has forecasted the following sales for the first seven months Jan $10,000 Feb 12,000 Mar 14,000 April 20,000 May 10,000 June 16,000 July 18,000 Monthly material purchase are set to 30 % of forecasted

    asked by Raana on April 5, 2009
  10. statistics

    given variables list them as independent (x) or as a dependent (y) I weight of child; prescription dosage II monthly commision; monthly sales II ability to concerntrate; level of fatique IV crop yield; rainfall

    asked by sandra on November 25, 2010

More Similar Questions