Question

Consider a small ferry that can accommodate cars and buses. The toll for cars is $3,...

Consider a small ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below.

y
p(x,y) 0 1 2
x 0 0.025 0.015 0.010
1 0.050 0.030 0.020
2 0.050 0.075 0.050
3 0.150 0.090 0.060
4 0.100 0.060 0.040
5 0.050 0.030 0.095

Compute the expected revenue from a single trip. (Round your answer to two decimal places.)

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Consider a small ferry that can accommodate cars and buses. The toll for cars is $3,...
Consider a small ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below. y p(x,y)    0    1    2    x 0 0.025 0.015 0.010 1 0.050 0.030 0.020 2 0.105 0.075 0.050 3 0.150 0.090...
Consider a small ferry that can accommodate cars and buses. The toll for cars is $3,...
Consider a small ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below. y p(x,y)    0    1    2    x 0 0.025 0.015 0.010 1 0.050 0.030 0.020 2 0.105 0.075 0.050 3 0.150 0.090...
Consider a small ferry that can accommodate cars and buses. The toll for cars is $3,...
Consider a small ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below. y p(x,y) 0 1 2 x 0 0.025 0.015 0.010 1 0.050 0.030 0.020 2 0.125 0.075 0.050 3 0.150 0.090 0.060 4 0.100 0.060...
Consider a small ferry that can accommodate cars and buses. The toll for cars is $3,...
Consider a small ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below. y p(x,y) 0 1 2 x 0 0.025 0.015 0.010 1 0.050 0.030 0.020 2 0.085 0.075 0.050 3 0.150 0.090 0.060 4 0.100 0.060...
Consider a small ferry that can accommodate cars and buses. The toll for cars is $3,...
Consider a small ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below. y p(x,y) 0 1 2 x 0 0.025 0.015 0.010 1 0.050 0.030 0.020 2 0.110 0.075 0.050 3 0.150 0.090 0.060 4 0.100 0.060...
5.1) The joint probability distribution of the number X of cars and the number Y of...
5.1) The joint probability distribution of the number X of cars and the number Y of buses per signal cycle at a proposed left-turn lane is displayed in the accompanying joint probability table. y p(x, y)      0 1 2 x 0     0.010     0.015     0.025   1     0.020     0.030     0.050   2     0.050     0.075     0.125   3     0.060     0.090     0.150   4     0.040     0.060     0.100   5     0.020     0.030     0.050   (a) What is the probability that there is exactly one car and exactly one bus...
The joint probability distribution of the number X of cars and the number Y of buses...
The joint probability distribution of the number X of cars and the number Y of buses per signal cycle at a proposed left-turn lane is displayed in the accompanying joint probability table. y p(x, y)      0 1 2 x 0     0.010     0.015     0.025   1     0.020     0.030     0.050   2     0.050     0.075     0.125   3     0.060     0.090     0.150   4     0.040     0.060     0.100   5     0.020     0.030     0.050   (a) What is the probability that there is exactly one car and exactly one bus during...
1 the probability distribution of x, the number of defective tires on a randomly selected automobile...
1 the probability distribution of x, the number of defective tires on a randomly selected automobile checked at a certain inspection station, is given in the following table. The probability distribution of x, the number of defective tires on a randomly selected automobile checked at a certain inspection station, is given in the following table. x 0 1 2 3 4 p(x) .53 .15 .08 .05 .19 (a) Calculate the mean value of x. μx =   (a) Calculate the mean...
We think of DNA as the stuff that stores the genetic code. It turns out that...
We think of DNA as the stuff that stores the genetic code. It turns out that DNA occurs, mainly outside living cells, on the ocean floor. It is important in nourishing seafloor life. Scientists think that this DNA comes from organic matter that settles to the bottom from the top layers of the ocean. "Phytopigments," which come mainly from algae, are a measure of the amount of organic matter that has settled to the bottom. The table contains data on...
Dupree Industries is deciding whether to automate one phase of its production process. The manufacturing equipment...
Dupree Industries is deciding whether to automate one phase of its production process. The manufacturing equipment has a six-year life and will cost $915,000. Projected net cash inflows are as?follows Year 1 $260,000 Year 2 253,000 Year 3 227,000 Year 4 211,000 Year 5 203,000 Year 6 177,000 Requirments 1. Compute this? project's NPV using duprees 16?% hurdle rate. Should Duprees invest in the? equipment? 2. Dupree could refurbish the equipment at the end of six years for $104,000. The...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT