Please see attachment for question. e. choices - yes with discrete, dependent, o

Question

Please see attachment for question. e. choices - yes with discrete, dependent, or independent OR no

A farmer has 40 lbs of apples and 110 lbs of potatoes for sale. The market price for apples (per pound) each day is a random variable with a mean of0.7 dollars and a standard deviation of 0.3 dollars. Similarly, for a pound of potatoes, the mean price is 0.6 dollars and the standard deviation is 0.1 dollars. It also costs him 3 dollars to bring all the apples and potatoes to the market. The market is busy with Shoppers, so assume thathe'll be able to sell all of each type of produce at that day's price. Complete parts a) through d) Make sure to consider all necessary assumptions before calculating. a) Define your random variables, and use them to express the farmers net income. O A. A pounds of apples sold, P number of lb of potatoes sold,Profit 0,7A +0.6P-3 O B. A price per pound of apples, P price per pound of potatoes, Profit- 40A 110P O C. A price per pound of apples, P-price per pound of potatoes, Profit-40A 110P-3 O D. A pounds of apples sold, P number of Ib of potatoes sold, Profit 0,7A +0.6P b) Find the mean. The mean profit is dollars. c) Find the standard deviation of the net income. The standard deviation is dollars. Round to two decimal places as needed.) d) Do you need to make any assumptions in calculating the mean? O A. Yes; the prices must be dependent O B. Yes; the prices must be independent, No O C. Yes, the variables must be discrete. O D. No, no assumptions are made in calculating the mean. Do you need to make any assumptions in calculating the standard deviation?

Explanation / Answer

a)ioption C is correct

b) mean profit=40*E(A)+110*E(P)-3 =40*0.7+110*0.6-3=91

c)std deviation of net income =((40*0.3)2+(110*0.1)2)1/2=16.28

d)option B is correct.

please revert

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