Question

A farmer has 100 lb of apples and 50 lb of potatoes for sale. The market price for apples (per pound) each day is a random variable with a mean of .5 dollars and a standard deviation is 0.2 dollars. Similarity, for a pound of potatoes, the mean is 0.3 dollars and the standard deviation is 0.1 dollar. If also costs him 2 dollars to bring all the apples and potatoes to the market. The market is busy with eager shoppers, so we can assume that he’ll be able to sell all of each type of produce at that day’s price.

Answer 1

A. 100X+50Y-2
b.$63
c.$20.62
d. yes