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A salesman has scheduled two appointments to sell encyclopedias. His first appointment will lead to a sale with probability 0.3, and his second will lead
A salesman has scheduled two appointments to sell encyclopedias. His first appointment will lead to a sale with probability 0.3, and his second will lead independently to a sale with probability 0.6. Any sale made is equally likely to be either for the deluxe model, which costs $1000, or the standard model, which costs $500. Determine the probability mass function of X, the total dollar value of all sales, the expected value of X and the Variance of X.
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