Question

EXERCISE 2.21 The joint probability distribution of the size of a company's sales force and its yearly sales revenue is as shown in Table 2.32. (a) Compute the mean, variance, and the standard deviation of the size of the sales force (b) Compute the mean, variance, and the standard deviation of yearly sales revenue. (c) Compute the covariance and correlation of the size of the sales force and yearly sales revenue. Probability Number of Sales People Yearly Sales Revenues (S100,000) TABLE 2.32 Joint probability distribution of sales force and yearly sales revenues. 15 20 25 30 35 1.53 1.06 2.61 3.85 4.03 0.10 0.20 0.25 0.25 0.20

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