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Suppose that a company produces three different products. The sales for each product are independent of the sales for the others. The information for these products is given below:

Product

A

Price ($)

3.50

Expected UnitSates

2000

Variance of Unit Sales

1000

B

2.00

10,000

6400

C

1.87

8500

1150

a. What are the expected revenue and variance of the revenue from Product A alone?

b. What are the company's overall expected revenue and variance of its revenue?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91704553

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