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A diamond producer kept sample data on the starting inventory level of diamonds and the number of days such inventory level is observed: Inventory

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A diamond producer kept sample data on the starting inventory level of diamonds and the number of days such inventory level is observed: Inventory 0 Level 1 2 3 4 5 9 7 8 Number of 25 45 60 75 80 50 45 60 30 Days Determine the expected inventory level of diamonds and the standard deviation of inventory levels. If it costs PhP3.50 to store an inventory of 1 unit of diamond per day, how much is the expected daily storage of keeping diamond in the inventory?

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To determine the expected inventory level of diamonds and the standard deviation we can use the given data to compute both statistical quantities Then ... blur-text-image

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