The Chamber of Commerce in a Canadian city has conducted an evaluation of 300 restaurants in its metropolitan area. Each restaurant received a rating on a 3-point scale on typical meal price (1 least expensive to 3 most expensive) and quality (1 lowest to 3 greatest quality). A cross tabulation of the rating data is shown. Forty-two of the restaurants received a rating of 1 on quality and 1 on meal price, 39 of the restaurants received a rating of 1 on quality and 2 on meal price, and so on. Forty-eight of the restaurants received the highest rating of 3 on both quality and meal price. Show Steps in Excel Meal price (y) 1 2 3 Total Quality (x) 1 42 39 3 84 2 33 63 54 150 3 3 15 48 66 Total 78 117 105 300 a Develop a bivariate probability distribution for quality and meal price of a randomly selected restaurant in this Canadian city. Let x = quality rating and y = meal price b Compute the expected value and the variance for quality rating, x. c. Compute the expected value and variance for meal price, y.
The Chamber of Commerce in a Canadian city has conducted an evaluation of 300 restaurants in its metropolitan area. Each restaurant received a rating on a 3-point scale on typical meal price (1 least expensive to 3 most expensive) and quality (1 lowest to 3 greatest quality). A cross tabulation of the rating data is shown. Forty-two of the restaurants received a rating of 1 on quality and 1 on meal price, 39 of the restaurants received a rating of 1 on quality and 2 on meal price, and so on. Forty-eight of the restaurants received the highest rating of 3 on both quality and meal price. Show Steps in Excel
Meal price (y)
1 2 3 Total
Quality (x) 1 42 39 3 84
2 33 63 54 150
3 3 15 48 66
Total 78 117 105 300
a Develop a bivariate probability distribution for quality and meal price of a randomly selected restaurant in this Canadian city. Let x = quality rating and y = meal price
b Compute the
c. Compute the expected value and variance for meal price, y.
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