A consultant's salary, captured by the random variable Y = B + X comes from a deterministic base B = 78 and a random bonus X. The bonus has mean E[X] = 16 and variance V[X] = 240. What is the expected value of the total compensation E[Y]?
A consultant's salary, captured by the random variable Y = B + X comes from a deterministic base B = 78 and a random bonus X. The bonus has mean E[X] = 16 and variance V[X] = 240. What is the expected value of the total compensation E[Y]?
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter1: Functions
Section1.2: The Least Square Line
Problem 8E
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![A consultant's salary, captured by the random variable Y = B + X comes from a deterministic
base B = 78 and a random bonus X. The bonus has mean E[X] = 16 and variance V[X] =240.
What is the expected value of the total compensation E[Y]?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1858a710-c111-4513-9004-6c10bf7d1d6e%2F57ef1e22-3b13-4baf-bdb8-a08c777a8285%2Frxo0z8f_processed.png&w=3840&q=75)
Transcribed Image Text:A consultant's salary, captured by the random variable Y = B + X comes from a deterministic
base B = 78 and a random bonus X. The bonus has mean E[X] = 16 and variance V[X] =240.
What is the expected value of the total compensation E[Y]?
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Step 1
Given that
E[X]=16, V[X]=240
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