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The number of people in a car that crosses a certain bridge is represented by the random variable X, which has a mean value μX = 2.7, and a variance σ2X = 1.2. The toll on the bridge is $3.00 per car plus $0.50 per person in the car.What is the mean of the total amount of money that is collected from a car that crosses the bridge? Report your answer to two decimal places

Question

The number of people in a car that crosses a certain bridge is represented by the random variable X, which has a mean value μX = 2.7, and a variance σ2X = 1.2. The toll on the bridge is 3.00percarplus3.00 per car plus 0.50 per person in the car.What is the mean of the total amount of money that is collected from a car that crosses the bridge? Report your answer to two decimal places

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Solution

The mean of the total amount of money collected from a car that crosses the bridge can be calculated by adding the fixed toll per car to the product of the mean number of people in a car and the toll per person.

The fixed toll per car is $3.00.

The mean number of people in a car is given as μX = 2.7.

The toll per person is $0.50.

So, the mean of the total amount of money collected from a car that crosses the bridge is:

3.00+(2.73.00 + (2.7 * 0.50) = 3.00+3.00 + 1.35 = $4.35

So, the mean of the total amount of money that is collected from a car that crosses the bridge is $4.35.

This problem has been solved

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