Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A chemical supply company currently has in stock 100 lb of a certain chemical which it sells to customers in 7 1b batches Let X
A chemical supply company currently has in stock 100 lb of a certain chemical which it sells to customers in 7 1b batches Let X the number of batches ordered by a range suppose that X has the following pmf X p x Compute E X and V X E X V X 1 0 3 batches batches2 2 0 5 3 0 1 4 0 1 Compute the expected number of pounds left after the next customer s order is shipped and the variance of the number of pounds left Hint The number of pounds left is a linear function of X expected weight left lb 16 variance of weight left
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started