A gas station earns $2.500 in revenue for each gallon of regular gas it sells, $2.550 for each gallon of midgrade gas, and $2.600 for each gallon of premium gas. Let X1, X2, and X3 denote the numbers of gallons of regular, midgrade, and premium gasoline sold in a day. Assume that X1, X2, and X3 have means μ1=1500, μ2=500, and μ3=300, and standard deviations σ1=180, σ2=90, and σ3=40, respectively.1) Find the mean daily revenue. 2) Assuming X1, X2, and X3 to be independent, find the standard deviation of the daily revenue. (Round the final answer to three decimal places.)
A gas station earns $2.500 in revenue for each gallon of regular gas it sells, $2.550 for each gallon of midgrade gas, and $2.600 for each gallon of premium gas. Let X1, X2, and X3 denote the numbers of gallons of regular, midgrade, and premium gasoline sold in a day. Assume that X1, X2, and X3 have means μ1=1500, μ2=500, and μ3=300, and standard deviations σ1=180, σ2=90, and σ3=40, respectively.1) Find the mean daily revenue. 2) Assuming X1, X2, and X3 to be independent, find the standard deviation of the daily revenue. (Round the final answer to three decimal places.)
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter12: Quadratic Functions
Section12.8: Joint And Combined Variation
Problem 11P
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A gas station earns $2.500 in revenue for each gallon of regular gas it sells, $2.550 for each gallon of midgrade gas, and $2.600 for each gallon of premium gas. Let X1, X2, and X3 denote the numbers of gallons of regular, midgrade, and premium gasoline sold in a day. Assume that X1, X2, and X3 have means μ1=1500, μ2=500, and μ3=300, and standard deviations σ1=180, σ2=90, and σ3=40, respectively.
1) Find the
2) Assuming X1, X2, and X3 to be independent, find the standard deviation of the daily revenue. (Round the final answer to three decimal places.)
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