A shop's daily revenue and daily cost are independent random variables with dollars, dollars, and . Daily profit is . Which of the following gives the expected daily profit and its standard deviation?
mean and standard deviation of random variables
Review mean and standard deviation of random variables for AP Statistics and try 2 free AP-style practice questions. 9 questions on this topic in AP Statistics · Unit 4 · Probability, Random Variables, and Probability Distributions.
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A basketball player takes 2 free throws. The probability that she makes the first is 0.75. If she makes the first, the probability that she makes the second is 0.80; if she misses the first, the probability that she makes the second is 0.60. Let be the number of free throws she makes. Which of the following gives the mean and the variance of ?
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Answer, then see why
The price of gasoline rises 10% and the quantity demanded falls 5%. What happens to total revenue?
Not quite. The answer is B.
Why the other options are wrong
AI grading for free-response
Write your FRQ answer and get it scored point by point against the AP rubric, with the line from your answer that earned or missed each point.
Reason: Correctly identifies demand for gasoline as inelastic.
Evidence: "The price of gasoline rises and the quantity falls only a little."
Reason: Graph shows relatively inelastic demand.
Evidence: Draws a steep demand curve.
Reason: Correct new equilibrium price.
Evidence: Shifts supply left, P1 → P2.
Reason: With inelastic demand, a price increase raises total revenue.
Evidence: "Revenue goes down."