6. + 1 points DevoreStat9 5E026 My Notes Ask Your Teacher Consider a small ferry

Question

6. + 1 points DevoreStat9 5E026 My Notes Ask Your Teacher Consider a small ferry that can accommodate cars and buses. The toll for cars is $3, and the toll for buses is $10. Let X and Y denote the number of cars and buses, respectively, carried on a single trip. Suppose the joint distribution of X and Y is as given in the table below. p(x,y) 2 0.025 0.015 0.010 1 0.050 0.030 0.020 2 0.065 0.075 0.050 3 0.150 0.090 0.060 4 0.100 0.060 0.040 5 0.050 0.030 0.080 Compute the expected revenue from a single trip. (Round your answer to two decimal places.) Need Help? Read It Talk to a Tutor

Explanation / Answer

X: No. of Cars

Y: No. of Buses

Ri = 3$ for Car and 10$ for Bus

Revenue = P(x,y)*Ri

Total Revenue= 0.015*10 + 0.01*20 +0.05*3 + 0.03*13 + 0.02*23 + 0.065*6 + 0.075*16 + 0.05*26 + 0.15*9 + 0.09*19 + 0.06*29 + 0.1*12 + 0.06*22 + 0.04*32 + 0.05*15 + 0.03*25 + 0.08*35

Total Expected Revenue = 17.14

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