Car Sales The Joint Probability Distribution of Variables X and Y Is

question 220

Short Answer

Car Sales
The joint probability distribution of variables X and Y is shown in the table below.Rebecca and Rachel are car salespeople.Let X denote the number of cars that Rebecca will sell in a month,and let Y denote the number of cars Rachel will sell in a month. ​ ​
-{Car Sales Narrative} Calculate V(X + Y)directly by using the probability distribution of X + Y.

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Definitions:

Net Sales

The amount of revenue generated from goods or services sold after deducting returns, allowances, and discounts.

Gross Margin Ratio

A financial metric that measures the proportion of money left over from revenues after accounting for the cost of goods sold, expressed as a percentage of sales revenue.

Net Sales

The total revenue from sales transactions after subtracting returns, allowances for damaged or missing goods, and any discounts offered.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials, labor, and overhead costs.