When parking a car in a downtown parking lot, drivers pay according to the number of hours or fraction thereof. The probability distribution of the number of hours cars are parked has been estimated as follows:
| X |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
| P(X) |
0.217 |
0.117 |
0.105 |
0.097 |
0.052 |
0.021 |
0.038 |
0.353 |
A. Mean =
B. Standard Deviation =
The cost of parking is 3.5 dollars per hour. Calculate the mean and standard deviation of the amount of revenue each car generates.
A. Mean =
B. Standard Deviation =