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When parking a car in a downtown parking lot, drivers pay according to the number of hours or fraction thereof. The probability distribution of the
When parking a car in a downtown parking lot, drivers pay according to the number of hours or fraction thereof. The probability distribution of the number of hours cars are parked has been estimated as follows:
X 12345678 P(X) 0.2320.1240.1150.0840.0610.030.0280.326
A. Mean =
Standard Deviation =
The cost of parking is 3.5 dollars per hour. Calculate the mean and standard deviation of the amount of revenue each car generates.
Mean =
Standard Deviation =
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