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EXERCISE 2.22A large retail company has stores at two locations in a city: a large department store and a discount outlet store. Weekly sales of

EXERCISE 2.22A large retail company has stores at two locations in a city: a large

department store and a discount outlet store. Weekly sales of umbrellas at the department

store have a mean of 147.8 and a standard deviation of 51.0. Weekly sales

of umbrellas at the discount outlet store have a mean of 63.2 and a standard deviation

of 37.0. Sales of umbrellas in the two stores have a correlation of 0.7.

Umbrellas cost $17 each at the department store and $9 each at the outlet store.

Compute the mean, variance, and standard deviation of the total (combined) umbrella

sales revenue from the two stores.

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