Customers At A Fast Food Restaurant Buy Both Sandwiches And Drinks The Joint Distribution On The Right Summarizes The N 1 (102.61 KiB) Viewed 131 times
Customers at a fast-food restaurant buy both sandwiches and drinks. The joint distribution on the right summarizes the number of sandwiches (X) and drinks (Y) purchased by customers. Complete parts (a) through (f). 1 drink 2 drinks х 1 sandwich 0.30 0.10 0 Y 2 sandwiches 0.20 0.25 0.15 3 drinks (a) Find the expected value and variance of the number of sandwiches. E(X)= Var(x)= (Type integers or decimals.) (b) Find the expected value and variance of the number of drinks. E(Y) = Var(Y) = (Type integers or decimals.) (c) Find the correlation between X and Y. (Hint: You might find the calculations easier if you use the alternative expression for the covariance.) Corr(X,Y)=0 (Round to three decimal places as needed.) (d) Interpret the size of the correlation for the manager of the restaurant. Choose the correct answer below. O A. Customers who tend to buy more drinks tend to buy fewer sandwiches. O B. Customers who tend to buy more drinks tend to buy more sandwiches. OC. There is no correlation between the number of drinks and sandwiches sold. (e) If the profit earned from selling a sandwich is $1.50 and from a drink is $1.00, what is the expected value and standard deviation of the amount sold to each customer?
(e) If the profit earned from selling a sandwich is $1.50 and from a drink is $1.00, what is the expected value and standard deviation of the amount sold to each customer? E(1.5X + Y) = $ SD(1.5X + Y)= $ (Round to two decimal places as needed.) (f) Find the expected value of the ratio of drinks to sandwiches. Is it the same as Hy / ux? My / ux: The expected value of the ratio of drinks to sandwiches is E(Y/X) = . It (Type an integer or a decimal.)
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