Question
An online retailer sells two related products denoted by A and B. Based on the past data, the analysts were able to obtain the joint
An online retailer sells two related products denoted by A and B. Based on the past data, the analysts were able to obtain the joint probability distribution of the sales of these two products on a typical day. The assessed distribution is shown in the below at the bottom.
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Q1. What is the probability that the store will not sell any of the product A? a) 0.19 b) 0.10 c) 0.29 d) 0.22
Q2. What is the probability that the store will not sell any of the product B? a) 0.05 b) 0.10 c) 0.29 d) 0.30
Q3. What is the expected number of product A sales on a given day? a) 1.55 b) 1.8 c) 1.2 d) 2
Q4. What is the expected number of product B sales on a given day? a) 1.55 b) 1.8 c) 1.2 d) 2
Q5. What is the standard deviation of product A sales on a given day? a) 1.03 b) 0.97 c) 0.8 d) 1.2
Q6. What is the standard deviation of product B sales on a given day? a) 1.03 b) 0.97 c) 0.8 d) 1.2
Q7. What is the correlation between the sales of product A and B? a) 0 b) 0.10 c) -0.29 d) 0.29
Q8. Are the sales of products A and B independent? a) Yes b) No c) Neither d) Cannot be determined based on the information given in the problem.
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