A flight company has number of flights every day. This number X is uniformly distributed from 10 to 50 per day. Assume that the company just earns money if it has more than 30 flight a day. The total amount of money that company makes a day is as following:
Y = 4 + 3X+2X^2
Compute the E[Y], V[Y].
Hint: Use the concept of conditional expectation and conditional variance.
This question was answered on: Sep 18, 2020
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