TABLE 5-8 Two Different Designs on a New Line of Winter Jackets

question 89

Short Answer

TABLE 5-8
Two different designs on a new line of winter jackets for the coming winter are available for your manufacturing plants. Your profit (in thousands of dollars) will depend on the taste of the consumers when winter arrives. The probability of the three possible different tastes of the consumers and the corresponding profits are presented in the following table.

-Referring to Table 5-8, what is the total variance of the profit if you increase the shift of your production lines and choose to produce both designs?

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Interstate Highway

A network of controlled-access highways that form part of the National Highway System in the United States.

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An educational institution funded and operated by the government, providing free education to students.

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The difference between total taxes collected by the government and the total transfer payments and non-tax revenues it provides.

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Payments made by governments to individuals without the expectation of any goods or services in return, such as welfare or social security payments.