Question
Given the following record of State College maximum and minimum temperatures, compute the expected value and...
Given the following record of State College maximum and minimum temperatures, compute the expected value and variance of electricity prices.
Use the formula price = 18 + 0.3( T− 60) 2
| Day | Minimum Temperature | Maximum Temperature |
|---|---|---|
| May 17, 2015 | 48 | 66 |
| May 18, 2015 | 48 | 72 |
| May 19, 2015 | 43 | 61 |
| May 20, 2015 | 47 | 61 |
| May 31, 2015 | 48 | 60 |
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