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Soft drink sellers offer three sizes of colasmall, medium, and largefor wholesale. The colas are sold for $0.70, $1, and $1.30, respectively. Twenty percent of
Soft drink sellers offer three sizes of colasmall, medium, and largefor wholesale. The colas are sold for $0.70, $1, and $1.30, respectively. Twenty percent of the orders are for small, 55 percent are for medium, and 25 percent are for the large sizes. Organize the size of the colas and the probability of a sale into a probability distribution.
(a) Is this a discrete probability distribution? Indicate why or why not.
(b) Compute the mean amount charged for a cola.
(c) What is the variance in the amount charged for a cola? The standard deviation?
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