Marketing and Consumer Behavior Kohl's is running a sale in which customers may save as much as 40% on any purchase. Once a customer decides to make a purchase, he selects two sales prize tickets at random from a large bin at the front of the store. Each ticket has a percentage marked on it, and the probability of selecting each ticket is given in the table below
The larger of the two percentages selected is used for the purchase.
a. Let X be the maximum of the two prize ticket percentages. Find the probability distribution for X.
b. Find the mean, variance, and standard deviation of X.
c. What is the probability that a customer will receive at least 20% off on his or her purchase?