SOLUTION: A consultant is beginning work on three projects. The expected profits from these projects are $41 thousand, $60 thousand, and $15 thousand respectively. The associated standard de

Question 1205947: A consultant is beginning work on three projects. The expected profits from these projects are $41 thousand, $60 thousand, and $15 thousand respectively. The associated standard deviations are $13 thousand, $16 thousand, and $5 thousand respectively. Answer the following, rounding your answers to two decimal places.

(a) Assuming independence of outcomes, find the mean (in thousands of $) of the consultant's total profits from these three projects.

(b) Assuming independence of outcomes, find the standard deviation (in thousands of $) of the consultant's total profits from these three projects.
Answer by ikleyn(52754) (Show Source): You can put this solution on YOUR website!
.


(a) the mean of the tree projects is the sum of the three individual means.


(b)  The standard deviation from these three projects is

         s =  = 21213.20 dollars.

Solved.

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