When parking a car in a downtown parking lot, drivers pay according to the number of hours or fraction thereof. The probability distribution of the number of hours cars are parked has been estimated as follows: X 1 2 3 4 5 6 7 8 P(X) 0.219 0.105 0.121 0.099 0.055 0.021 0.025 0.355 A. Mean = B. Standard Deviation = The cost of parking is 3.5 dollars per hour. Calculate the mean and standard deviation of the amount of revenue each car generates. A. Mean = B. Standard Deviation

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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When parking a car in a downtown parking lot, drivers
pay according to the number of hours or fraction thereof.
The probability distribution of the number of hours cars
are parked has been estimated as follows:
X 1 23 4 5 6 7 8
P(X) 0.219 0.105 0.121 0.099 0.055 0.021 0.025 0.355
A. Mean =
=
B. Standard Deviation =
The cost of parking is 3.5 dollars per hour. Calculate the
mean and standard deviation of the amount of revenue
each car generates.
A. Mean =
B. Standard Deviation =
Transcribed Image Text:When parking a car in a downtown parking lot, drivers pay according to the number of hours or fraction thereof. The probability distribution of the number of hours cars are parked has been estimated as follows: X 1 23 4 5 6 7 8 P(X) 0.219 0.105 0.121 0.099 0.055 0.021 0.025 0.355 A. Mean = = B. Standard Deviation = The cost of parking is 3.5 dollars per hour. Calculate the mean and standard deviation of the amount of revenue each car generates. A. Mean = B. Standard Deviation =
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