7.57 A retail grocery merchant figures that her daily gain from sales X is a normally distributed...

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7.57 A retail grocery merchant figures that her daily gain from sales X is a normally distributed random variable with   50 and 2  10 (measurements in dollars). X could be negative if she is forced to dispose of perishable goods. Also, she figures daily overhead costs Y to have a gamma distribution with   4 and   2. If X and Y are independent, find the expected value and variance of the net daily gain.Would you expect the net gain for tomorrow to go above $70?

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Probability And Statistics For Engineers

ISBN: 9781133006909

5th Edition

Authors: Richard L Scheaffer, Madhuri Mulekar, James T McClave, Cecie Starr

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