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0 Calculate and interpret the mean and variance of discrete and continuous random variables. Materials: . Scientic Calculator |. Do as indicated. 1. The manager of a stockroom in a factory has constructed the following probability distribution for the daily demand (number of items used) for a particular tool. (2 items 8 5 points) X 0 1 2 P X 0.1 0.5 0.4 It costs the factory P1 0 each time the tool is used. a. Find the mean and variance of the daily costs for the total usage of tools. b. Interpret the distribution based on its mean! expected value. 2. During a day shift, the proportion of time, X, and the density function of a sheet-metal stamping machine being down for maintenance or repairs is given as follows: (2 items a 5 points) 2 2x, 0