You are managing a small firm that produces industrial parts for the assembly of cars. One of your products is too technical and therefore needs more time than the other parts to be produced. As a manager, you want to make sure that the amount that you produced is more or less commensurate with the demand. Based on historical data, you obtained the following:X300400500600Probability0.200.300.350.15 a) Explain in words what is the random variable in this case.b) What is the expected value of the random variable?c) What is the variance of the random variable?

You are managing a small firm that produces industrial parts for the assembly of cars. One of your products is too technical and therefore needs more time than the other parts to be produced. As a manager, you want to make sure that the amount that you produced is more or less commensurate with the demand. Based on historical data, you obtained the following: mm 3) Explain in words what is the random variable in this case. b)What is the expected value of the random variable? c)What is the variance of the random variable