Dee's store monthly sales for April, May, June are three independent random variables with means and variances as follow:
April:
Mean: $9500
Variance: $1250
May:
Mean: $7400
Variance: $1425
June:
Mean: $8600
Variance: $1610
a) find the mean and standard deviation of the total sales for the 2nd quarter (3 month period).
-I don't understand, what is the 2nd quarter??
b) If the store manager is paid by a base monthly salary of $2000 plus 10% of the monthly sales as commission, what is the mean and standard deviation of his monthly salary for May?
Dee's store monthly sales for April, May, June are three independent random variables with means and variances as follow:
April:
Mean: $9500
Variance: $1250
May:
Mean: $7400
Variance: $1425
June:
Mean: $8600
Variance: $1610
a) find the mean and standard deviation of the total sales for the 2nd quarter (3 month period).
-I don't understand, what is the 2nd quarter??
b) If the store manager is paid by a base monthly salary of $2000 plus 10% of the monthly sales as commission, what is the mean and standard deviation of his monthly salary for May?
2nd quarter probably implies the three months at hand (April, May, June). 1st quarter would have been Jan, Feb, March.
ok, i see, then i think i know how to do a), but i need some help on b).
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