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A firm purchases two types of industrial chemicals. Type I chemical costs $3 per gallon, whereas type II costs $5 per gallon. The mean and variance for the number of gallons of type I chemical purchased, Y, are 40 and 4, respectively. The amount of type II chemical purchased, Y2, has E(Y2) = 65 gallons and V(Y2) = 8. Assume that Y, and Y2 are independent and find the mean and variance of the total amount of money spent per week on the two chemicals.

A firm purchases two types of industrial chemicals. Type I chemical costs $3 per gallon, whereas type II costs $5 per gallon. The mean and variance for the number of gallons of type I chemical purchased, Y, are 40 and 4, respectively. The amount of type II chemical purchased, Y2, has E(Y2) = 65 gallons and V(Y2) = 8. Assume that Y, and Y2 are independent and find the mean and variance of the total amount of money spent per week on the two chemicals.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A firm purchases two types of industrial chemicals. Type I chemical costs $3 per gallon, whereas type II costs $5 per gallon. The mean and variance for the number of gallons of type I chemical purchased, Y,, are 40 and 4, respectively. The amount of type II chemical purchased, Y2, has E(Y2) = 65 gallons and V(Y2) = 8. Assume that Y, and Y2 are independent and find the mean and variance of the total amount of money spent per week on the two chemicals.
Transcribed Image Text:A firm purchases two types of industrial chemicals. Type I chemical costs $3 per gallon, whereas type II costs $5 per gallon. The mean and variance for the number of gallons of type I chemical purchased, Y,, are 40 and 4, respectively. The amount of type II chemical purchased, Y2, has E(Y2) = 65 gallons and V(Y2) = 8. Assume that Y, and Y2 are independent and find the mean and variance of the total amount of money spent per week on the two chemicals.
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