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Mathematics, 18.01.2021 14:00 janellesteele7498
A pizza shop sells three sizes of pizza, and they track how often each size gets ordered along with how much they profit from each size. Let X represent the shop's profit on a randomly selected pizza. Here's the probability distribution of XXX along with summary statistics:
Small Medium Large
X= Profit($) 4 8 12
P(X) 0.18 0.50 0.32
Mean μx= $8.56
Standard Deviation σx ≈ 2.77
The company is going to run a promotion where customers get $2 off any size pizza. Assume that the promotion will not change the probability that corresponds to each size. Let Y represent their profit on a randomly selected pizza with this promotion. What are the mean and standard deviation of Y?
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