A retail dealer sells three brands of automobiles. For brand A, her profit per sale, X is normally distributed with parameters (1, 2 1 ); for brand B her profit per sale Y is normally distributed with parameters (2, 2 2 ); for brand C, her profit per sale W is normally distributed with parameters (3, 2 3 ). For the year, two-fifths of the dealers sales are of brand A, one-fifth of brand B, and the remaining two-fifths of brand C. If you are given data on profits for n1, n2, and n3 sales of brands A, B, and C, respectively, the quantity U = .4X + .2Y + .4W will approximate to the true average profit per sale for the year. Find the mean, variance, and probability density function for U. Assume that X, Y , and W are independent

Chapter 2 Examining Distributions Mean = average of data set Median = middle/center number of data set (if even number, find mean of two middle numbers) Mode = most common number in data set Range = Max - min Inter-Quartile Range = measures the variability of a distribution by giving us the range covered by the MIDDLE 50% of the data. IQR = Q3-Q1 -Q1 -M -Q3 The Boxplot = graphically represents...