Mathematics, 16.05.2021 01:30 barkahigh8089
A company is considering a new marketing plan that will cost $600,000 Based on answers from a random sample of consumers, the company's marketing analysts have prepared the following table, which shows the probabilities of various payoffs the company could expect from the new plan. $500,000 $750,000 $1,000,000 $2,000,000 P(x) 0.50 0.30 0.15 0.05 The analysts calculate that the mean of the discrete random variable x is $725,000. This is the expected payoff to the company of the marketing plan. The analysts excitedly take this to their boss, who says, "Wait a minute! This plan is going to cost us $600,000. What about the variance in your estimate?" Which of the following choices is closest to the standard deviation of x? A. $725,000 B. $125,000 C. $118,000,000,000 D. $344,000 E. $86,000β
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A company is considering a new marketing plan that will cost $600,000 Based on answers from a random...
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