For exercises 21-23, construct a probability distribution and compute the mean and standard deviation for only...

For exercises 21-23, construct a probability distribution and compute the mean and standard deviation for only 21 and 23.

21 Kathryn and John would like to rent a car for a day at the airport. There is a 0.30 probability that they will rent a truck at $20per day, a 0.27 probability that they will rent a SUV at $18 per day, and a 0.28 probability that they will rent a sport car at $35 per day, and a 0.15 probability that they will rent minivan at $24 per day. Let X be random variable be defined as renting cost.

22 A car dealer bought a used car at $2,800. He estimates that he can sell the car for $3,500, $3,700, or $3,900, with probabilities .24, .40, and .36, respectively. Let X be a random variable defined as profit obtained by selling a car.

23 The probabilities that a customer selects 1, 2, 3, 4, or 5 items at a convenience store are 0.32, 0.12, 0.23, 0.18, and 0.15, respectively

Expert Solution

orchestra answered 1 year ago

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Suppose x has a distribution with a mean of 40 and a standard deviation of 21....

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