Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 2 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 12 Nov 2017 My Price 5.00

cleaning and repair costs

40.     Real estate. A real estate broker purchased 3 two- bedroom houses in a depressed market for a combined cost of $71,000. He expects the cleaning and repair costs on each house to average $3700, with a standard deviation of $1450. When he sells them, after subtracting taxes and other closing costs, he expects to realize an average of $39,000 per house, with a standard deviation of $1100.

a)    Define your random variables, and use them to create a random variable for the broker’s net profit.

b)    Find the mean (expected value) of the net profit.

c)    Find the standard deviation of the net profit.

d)    Do you have to assume independence for the repairs and sale prices of the houses? Explain.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Nov 2017 12:11 PM My Price 5.00

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