A salesman has an 80% chance of making a sale on each call. If 3 calls...

A salesman has an 80% chance of making a sale on each call. If 3 calls are made, let X=total number of sales and Y=total profit from the sales were the profit Y is calculated as follows: Any Sales on the first two calls yield a profit of $100 each. By the time the third call is made, the original product has been replaced by a new product whose sale yields a profit of $200. Thus, for example, the sequence (sale, no sale, sale) would give Y=$300

a) list the sample space b) Tabulate and graph the bivariate distribution c) Calculate the marginal distribution of X and of Y d) Calculate E[x] and E[Y] e) Are X and Y independent?

Expert Solution

orchestra answered 2 years ago

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