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Chapter 6: Q.3.1 (page 373)

A large auto dealership keeps track of sales and leases agreements made during each hour of the day. Let χ= the number of cars sold and γ= the number of cars leased during the first hour of business on a randomly selected Friday. Based on previous records, the probability distributions of χand γare as follows:

DefineD=X-Y

Find and interpret μD.

Short Answer

Expert verified

From the given information, it is expected that0.4 more of the cars would be sold out than leasing.

Step by step solution

01

Given Information

It is given in the question that,

μχ=1.1,σχ=0.943

μγ=0.7,σγ=0.64

D=χ-γ

02

Step 2: Explanation

The mean can be calculated as :

μD=μχ-μγ=1.1−0.7=0.4

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