Mathematics, 18.01.2021 14:00 Blbyrd1287
Marcos owns and operates a shuttle service that runs every hour and transports customers between their hotels and the city's downtown area. Let X represent the number of customers on a randomly chosen trip.
Based on previous data, here is the probability distribution of X along with summary statistics:
X = # of customers 0 1 2 3
P(X) 0.10 0.20 0.30 0.40
Mean: μx = 2
Standard deviation: σx = 1
Suppose that each trip costs Marcos $1 in fuel regardless of how many customers he has, and each customer on a trip pays him $10. Let Y represent Marcos' net gain from a randomly chosen trip. What are the mean and standard deviation of Y?
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Marcos owns and operates a shuttle service that runs every hour and transports customers between the...
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