Explain Expected value and variance and standard deviation.
A volunteer ambulance service handles 0 to 5 service calls on any given day. The likelihood distribution for the number of service calls is as follows
|
Number of Service Calls
|
Probability
|
Number of service calls
|
Probability
|
|
0
|
0.1
|
3
|
0.2
|
|
1
|
0.15
|
4
|
0.15
|
|
2
|
0.3
|
5
|
0.1
|
a) Explain what is the expected number of service calls?
b) Explain what is the variance in the number of service calls? What is the standard deviation?