Solutions Statistics

The joint probability distribution of the weekly demand for the two brands of diet soda is provided

Question: The joint probability distribution of the weekly demand for the two brands of diet soda is provided in the file Assign2-3.Xls. In particular, let D₁ and D₂ represent the weekly demand (in hundreds of 2-liter bottles) for brand 1 and brand 2, respectively, in a small town in central Utah.

a) Find the mean and standard deviation of this community’s weekly demand for each brand of diet soda.

b) What is the probability that the weekly demand for each brand will be at least 1 standard deviation above its mean?

c) What is the probability that at least one of the two weekly demands will be at least 1 standard deviation above its mean?

Weekly sales of two brands of diet soda in Small Town

		Brand 2 demand (D₂ )
		10	11	12	13	14	15
Brand 1 demand (D₁ )	10	0.01	0.015	0.03	0.035	0.035	0.03
	11	0.01	0.015	0.03	0.035	0.035	0.03
	12	0.02	0.025	0.05	0.05	0.025	0.02
	13	0.02	0.025	0.05	0.05	0.025	0.02
	14	0.03	0.035	0.035	0.03	0.015	0.01
	15	0.03	0.035	0.035	0.03	0.015	0.01