Refer to Exercise 7.22. a. Determine the probability distribution of the amount of money the arcade takes

Question:

Refer to Exercise 7.22.

a. Determine the probability distribution of the amount of money the arcade takes in per child.

b. Use the probability distribution to calculate the mean and variance of the amount of money the arcade takes in.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...