An certain brand of upright freezer is available in three different rated capacities: 16 ft3, 18 ft3, and 20 ft3. Let X = the rated capacity of a freezer of this brand sold at a certain store. Suppose that X has the following pmf. x 16 18 20 p(x) 0.3 0.2 0.5 (a) If the price of a freezer having capacity X is 61X − 650, what is the expected price paid by the next customer to buy a freezer? (b) What is the variance of the price paid by the next customer? (c) Suppose that although the rated capacity of a freezer is X, the actual capacity is h(X) = X − 0.009X2. What is the expected actual capacity of the freezer purchased by the next customer?

An certain brand of upright freezer is available in three different rated capacities: 16 ft3, 18 ft3, and 20 ft3. Let X = the rated capacity of a freezer of this brand sold at a certain store. Suppose that X has the following pmf. x 16 18 20 p(x) 0.3 0.2 0.5 (a) If the price of a freezer having capacity X is 61X − 650, what is the expected price paid by the next customer to buy a freezer? (b) What is the variance of the price paid by the next customer? (c) Suppose that although the rated capacity of a freezer is X, the actual capacity is h(X) = X − 0.009X2. What is the expected actual capacity of the freezer purchased by the next customer?

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Description: An certain brand of upright freezer is available in three different rated capacities: 16 ft3, 18 ft3, and 20 ft3. Let X = the rated capacity of a freezer of this brand sold at a certain store. Suppose that X has the following pmf.x161820p(x) 0.3

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter5: Inverse, Exponential, And Logarithmic Functions

Section5.6: Exponential And Logarithmic Equations

Problem 64E

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A certain brand of upright freezer is available in threedifferent rated capacities: 16 ft3, 18 ft3, and 20 ft3. LetX = the rated capacity of a freezer of this brand sold ata certain store. Suppose that X has pmf x 16 18 20 p(x) 0.2 0.5 0.3 a. Compute E(X), E(X2), and V(X). b. If the price of a freezer having capacity X is70X - 650, what is the expected price paid by thenext customer to buy a freezer? c. What is the variance of the price paid by the nextcustomer? d. Suppose that although the rated capacity of a freezeris X, the actual capacity is h(X) = X - 0.008X2. Whatis the expected actual capacity of the freezer purchased by the next customer?
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