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The monthly sales"x" of a company have a mean of 25000 rupees and standard deviation of...

The monthly sales"x" of a company have a mean of 25000 rupees and standard deviation of 4000.profits "y" are calculated by multiplying sales by 0.3 and subtracting fixed cost 6000 rupees.Find the mean profit and the standard deviation of the profit.

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Answer #1

The monthly sales of a company is "x"

The mean of x is 25000

standard deviation of x is 4000

variance of x is 4000*4000=16000000

The profit of a company is represented by "y"

y is expressed as: y=0.3*sales-6000 = 0.3*x-6000

Mean of y= 0.3*mean(x)-6000

=0.3*25000-6000

=7500-6000 =1500

Mean of y is 1500

standard deviation of y =square root of variance of y

variance of y= (0.3)^2*variance(x)

=0.09*16000000

= 1440000

standard deviation of y is 1200

The mean of the profit is 1500 and standard deviation of profit is 1200

  

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