More pets You’re thinking about getting two dogs and a cat. Assume that annual veterinary expenses are independent and have a Normal model with the means and standard deviations described in Exercise...


More pets You’re thinking about getting two dogs and a cat. Assume that annual veterinary expenses are independent and have a Normal model with the means and standard deviations described in Exercise 52.


a) Define appropriate variables and express the total annual veterinary costs you may have.


 b) Describe the model for this total cost. Be sure to specify its name, expected value, and standard deviation.


 c) What’s the probability that your total expenses will exceed $400?


 d) What would a typical year cost you in expenses? How much should you have saved if you wanted to make sure your bills will be covered.



May 05, 2022
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