An automobile workshop has three new car treatment packages, each at a different price. The workshop owner
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An automobile workshop has three new car treatment packages, each at a different price. The workshop owner estimates that 20% of his customers will purchase the first treatment package, which costs €1,500 per package; 45%
will purchase the second package, which costs €900 per package; and 35% will purchase the third package, which costs €550 per package.
a) Find the expected value of the car treatment packages costs.
b) Find the standard deviation of the car treatment packages costs.
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Related Book For
Business Statistics
ISBN: 9781292269313
4th Global Edition
Authors: Norean Sharpe, Richard De Veaux, Paul Velleman
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