When parking a car in a downtown parking lot, drivers pay according to 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) |
0.218 |
0.135 |
0.124 |
0.084 |
0.058 |
0.03 |
0.031 |
0.32 |
A. Mean =
B. Standard Deviation =
The cost of parking is 3.25 dollars per hour. Calculate the mean and standard deviation of the amount of revenue each car generates.
A. Mean =
B. Standard Deviation =