Quiz 07.1.11 | Laws of Expected Value
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Question 1 of 2
1. Question
Given that X is a discrete random variable, then the laws of expected value and variance can be applied to show that E(X + 5) = E(X) + 5
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Question 2 of 2
2. Question
Monthly sales have a mean of $25,000.
Profits are calculated as 30% of sales, minus fixed costs of $6,000.
The mean monthly profit will be:
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