Mobile Phones Sales

question 203

Short Answer

Mobile Phones Sales
After analyzing sales data,the owner of a Mobile Phone store produced the following joint probability distribution of the number of iPhones (X)and Blackberries (Y)sold daily. ​ ​
-{Mobile Phones Sales Narrative} Calculate V(X + Y)directly by using the probability distribution of X + Y.

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Definitions:

Money Income

Money income denotes the total amount of cash or cash-equivalents received by an individual or household over a certain period, from various sources such as wages, investments, and transfers.

Budget Line

A graphical representation of all possible combinations of two goods that can be purchased with a given budget, given the prices of the goods.

Money Income

The total earnings received by an individual or household, including wages, salaries, and other income forms, usually before taxes.

Budget Line

A graphical representation of all possible combinations of two goods that can be purchased with a given income and prices.