A Malaysian Volkswagen dealer has total cash rebates of up to RM150,000 per day for the new

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A Malaysian Volkswagen dealer has total cash rebates of up to RM150,000 per day for the new Volkswagen Passat. The manager of the dealership summarized the number of cars sold per day with their respective probabilities as shown in the following table:

Daily Number of Cars Sold Probability 0 0.12 1 0.26 2 0.41 3 0.21

a. Find the expected number of Passats sold in a day.

b. Compute the standard deviation for the number of Passats sold in a day.

c. Determine the total cash rebates in a day for the sale of two or more Passats.

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Business Statistics

ISBN: 9781292220383

10th Global Edition

Authors: David Groebner, Patrick Shannon, Phillip Fry

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