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Suit Sales The number of suits sold per day at a retail
Chapter 5, Problem 2E(choose chapter or problem)
The number of suits sold per day at a retail store is shown in the table, with the corresponding probabilities. Find the mean, variance, and standard deviation of the distribution.
\(\begin{array}{|c|c|c|c|c|c|} \hline \text { Number of suits sold } \mathrm{X} & 19 & 20 & 21 & 22 & 23 \\ \hline \text { Probability } \mathrm{P}(\mathrm{X}) & 0.2 & 0.2 & 0.3 & 0.2 & 0.1 \\ \hline \end{array}\)
If the manager of the retail store wants to be sure that he has enough suits for the next 5 days, how many should the manager purchase?
Questions & Answers
QUESTION:
The number of suits sold per day at a retail store is shown in the table, with the corresponding probabilities. Find the mean, variance, and standard deviation of the distribution.
\(\begin{array}{|c|c|c|c|c|c|} \hline \text { Number of suits sold } \mathrm{X} & 19 & 20 & 21 & 22 & 23 \\ \hline \text { Probability } \mathrm{P}(\mathrm{X}) & 0.2 & 0.2 & 0.3 & 0.2 & 0.1 \\ \hline \end{array}\)
If the manager of the retail store wants to be sure that he has enough suits for the next 5 days, how many should the manager purchase?
ANSWER:Step 1 of 2:
Here, we are given a probability distribution of the number of suits sold in a store.
Using this we need to find the mean, variance and the standard deviations of the number of suits sold.
Also, we need to find the number of suits the manager has to have for the next 5 days.
The probability distribution given is
\(\begin{array}{|c|c|c|c|c|c|} \hline \text { Number of suits sold } \mathrm{X} & 19 & 20 & 21 & 22 & 23 \\ \hline \text { Probability } \mathrm{P}(\mathrm{X}) & 0.2 & 0.2 & 0.3 & 0.2 & 0.1 \\ \hline \end{array}\)