The manager of a stockroom in a factory has constructed

Chapter 3, Problem 34E

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QUESTION:

The manager of a stockroom in a factory has constructed the following probability distribution

for the daily demand (number of times used) for a particular tool.

y

0

1

2

\(p(y)\)

.1

.5

.4

It costs the factory $10 each time the tool is used. Find the mean and variance of the daily cost

for use of the tool.

Equation Transcription:

Text Transcription:

p(y)

Questions & Answers

QUESTION:

The manager of a stockroom in a factory has constructed the following probability distribution

for the daily demand (number of times used) for a particular tool.

y

0

1

2

\(p(y)\)

.1

.5

.4

It costs the factory $10 each time the tool is used. Find the mean and variance of the daily cost

for use of the tool.

Equation Transcription:

Text Transcription:

p(y)

ANSWER:

Answer:

Step 1 of 1:

The following table represents the probability distribution for the daily demand for a particular tool of a factory constructed by a stockroom manager.

0

1

2

It costs the factory  each time the tool is used.

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