X P(X)

150 0.216241663

250 0.170226556

300 0.137032348

400 0.084565663

450 0.066170513

600 0.041925871

650 0.049258389

700 0.06489999

750 0.081238557

900 0.053301896

1000 0.015739718

1050 0.007993195

1150 0.003440118

1200 0.002764448

1350 0.001634109

1400 0.001384987

1450 0.001177614

1500 0.001004365

1. (a) (1 point) Please determine the expected value for X.

(b) (2 points) Determine the standard deviation for X.

(c) (1 point) Determine the coefficient of variation for X

Ordering supply of wood. Each desk requires 10 square-feet of wood. Stan-

dard practice involves ordering an additional 2500 square-feet per month

(regardless of X) as a contingency (spare wood to compensate for mistakes in

carpentry).

2. (1 point) Express the random variable MWO as a simple algebraic function of X (the

number of desks to be produced) being sure to consider the contingency.

3. Determine the following for the random variable MWO.

(a) (2 points) Its expected value

(b) (2 points) Its standard deviation

(c) (1 point) Its coefficient of variation (let M refer to the variable MWO)

4. If the price of wood is 4:5 dollars per square-foot determine the following for the total

cost of wood materials per month (label this Z).

(a) (1 point) Its expected value

(b) (1 point) Its standard deviation

(c) (1 point) Its coefficient of variation