As you are aware, your firm, the WarmUp Co., sells only winter hats and coffee mugs, at prices of $20 per hat and $10 per mug.LetHdenote the number of hats you will sell this year, and letMdenote the number of mugs you will sell this year.As before, you believe that...

E(H) = 22,000Var(H) = 9,000,000E(M) = 8,000Var(M) = 1,000,000

You also believe thatHandMhave a correlation coefficient of (H,M) = 0.3.

(a)What is thecovarianceof H and M, Cov(H,M)?

(b)What is the standard deviation of your totalrevenuefor the year?