An appliance dealer sells three different models of upright freezers having 13.5, 15.9, and 19.1 cubic feet of storage space. Let x = the amount of storage space purchased by the next customer to buy a freezer. Suppose that x has the following probability distribution:
|
x
|
13.5
|
15.9
|
19.1
|
|
p(x)
|
.2
|
.5
|
.3
|
a. Calculate the mean and standard deviation of x.
b. If the price of the freezer depends on the size of the storage space, x, such that Price = 25x - 8.5, what is the mean value of the variable Price paid by the next customer?
c. What is the standard deviation of the price paid?