A fashion house in London offers a designer a contract, according to which she is to be

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A fashion house in London offers a designer a contract, according to which she is to be paid a fixed sum of £10,000 plus £1.75 for each unit of her design sold. Her uncertainty about total sales of the design can be represented by a random variable with a mean of 25,000 and a standard deviation of 8,500. Find the mean and standard deviation of the total payments she will receive.

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Statistics For Business And Economics

ISBN: 9781292315034

9th Global Edition

Authors: Paul Newbold, William Carlson, Betty Thorne

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