-2X² - 8.2 < 3.75 x 98X
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Answer:
The expected revenue is $37.50 and the variance of the revenue is $4.50.
Step-by-step explanation:
The random variable <em>X</em> 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 <em>X</em> = $0.30
The formula to compute the expected revenue is:
The formula to compute the variance of the revenue is:
Compute the expected revenue as follows:
Thus, the expected revenue is $37.50.
Compute the variance of the revenue as follows:
Thus, the variance of the revenue is $4.50.