A large auto dealership keeps track of sales and lease agreements made during each hour of the day. Let X=the number of cars sold and Y=the number of cars leased during the first hour of business on a randomly selected Friday. Based on previous records, the probability distributions of X and Y are as follows:
Define T=X+Y. Assume that X and Y are independent.
Mean µx= 1.1
St dev σx= 0.943
Mean µy= 0.7
St dev σy= 0.64
Find and interpret µt