Question
Suppose the number of boxes of Hammermill@ paper used by Anytown College Statistics & Probability Department each month is random and has the following probability
Suppose the number of boxes of Hammermill@ paper used by Anytown College Statistics & Probability Department each month is random and has the following probability distribution:
x f(x)
0 0.1
1 0.1
2 0.3
3 0.3
4 0.2
Suppose at the end of each month the department orders the same number of boxes as was used during the month. Suppose each box costs $25. The department has to pay a $5 delivery fee (the delivery fee does not depend on the number of boxes ordered). Then the monthly "paper" bill is Y = 25 X + 5. Find Anytown College Statistics & Probability Department's average monthly "paper" bill and its standard deviation.
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