33. The monthly wholesale price and quantity sold of fresh squeezed orange juice during the winter months

Question:

33. The monthly wholesale price and quantity sold of fresh squeezed orange juice during the winter months by a small Florida growers’ cooperative is represented by the following bivariate probability density function:

F pð Þ¼ ; q :01pe:01pqI½ 1:50;2:50 ðpÞI½ Þ 0;1 ðqÞ

where p is measured in dollars per gallon and q is measured in 1,000’s of gallons.

(a) Derive the probability density function of total revenue, R ¼ PQ.

(b) What is the expected value of total monthly revenue?

(c) What is the probability that total monthly revenue exceeds $100,000?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 100% (QA)

Answered By

Aysha Ali

my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field. matriculation in science topics; inter in computer science; bachelors in business and information technology _embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_

4.40+ 11+ Reviews 14+ Question Solved

Related Book For book-img-for-question