Two stores A and B, which belong to (be same owner, are located in two different shopping centers. If X and Y, in thousands of dollars. are the profit made by each store in any week, the joint probability density function of these two random variables is given by
a) Find the value of...
b) Find the marginal probability density function for each of the random variables. Are the weekly profits of these two stores independent?
(c) Calculate the probability that in one particular week, the profit of store B will be less than $2000.
(d) What will be the expected weekly profit made by store B?
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Marginal probability density function and expected values are investigated. The solution is detailed and well presented.