subject
Mathematics, 26.10.2021 01:00 watervliet2586

The nation of Olecarl, located in the South Pacific, has asked you to analyze international trade patterns. You first discover that each year it exports 10 units and imports 10 units of wonderful stuff. The price of exports is a random variable with a mean of 100 and a variance of 100. The price of imports is a random variable with a mean of 90 and a variance of 400. In addition, you discover that the prices of imports and exports have a correlation of rho = -0.40. The prices of both exports and imports follow a normal probability density function. Define the balance of trade as the difference between the total revenue from exports and the total cost of imports. a. What are the mean and variance of the balance of trade?
b. What is the probability that the balance of trade is negative?

ansver
Answers: 3

Another question on Mathematics

question
Mathematics, 21.06.2019 17:00
Find the value of the variable and the length of each secant segment.
Answers: 1
question
Mathematics, 21.06.2019 19:00
You give a $4 tip for a meal that cost $22. approximately what percent of the bill was your tip?
Answers: 1
question
Mathematics, 21.06.2019 19:30
Celeste wants to have her hair cut and permed and also go to lunch. she knows she will need $50. the perm cost twice as much as her haircut and she needs $5 for lunch. how much does the perm cost?
Answers: 1
question
Mathematics, 21.06.2019 21:00
25 ! i need asap! ! ill mark brainliest!
Answers: 2
You know the right answer?
The nation of Olecarl, located in the South Pacific, has asked you to analyze international trade pa...
Questions
question
Mathematics, 21.10.2019 18:30
question
Mathematics, 21.10.2019 18:30
Questions on the website: 13722366