Question
Suppose Paul has two monthly bills, one for utilities and one for cable services. Paul's utility bill includes separate charges for gas and electricity usage.
Suppose Paul has two monthly bills, one for utilities and one for cable services. Paul's utility bill includes separate charges for gas and electricity usage. The total number of dollars he spends each month for utilities is U.Paul's cable bill includes separate charges for his cable television subscription and his internet service. The total number of dollars he spends on cable services each month is .
Assume that the true, longrun proportion of Paul's utility bill due to electricity usage is known to be0.80.Assume that the true, longrun proportionof his cable bill due to television service is known to be0.25.The number of dollars Paul spends each month for electricity is a binomial random variablewith meanand standard deviation.The number of dollars he spends each month for cable television is a binomial random variablewith meanand standard deviation.The correlationbetween andis0.60.
The total number of dollars Paul spends one month on utilities is$50,and the total number of dollarshe spends one month on cable services is$110.Compute the mean+and standard deviation+of the total number of dollars Paul spends each month on electricity and cable television. Report your answers to two decimalplaces.
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