The local Toyota dealership pays an average of $9,260 with a standard deviation of $1099 for used car trade-ins. They sell new c
ars at an average of $28,451 with a standard deviation of
$3392. Assume independence of new car and trade-ins. What are the mean and standard
deviation of the revenue this dealership should expect when a person trades in a car and purchases a new one?
$3392. Assume independence of new car and trade-ins. What are the mean and standard
deviation of the revenue this dealership should expect when a person trades in a car and purchases a new one?
1 answer:
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Let <span>simplify the equations 
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<span>Equate the coefficients:
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Then
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<span>Equate the coefficients:
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Then
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