Question

2. When parking a car in a downtown parking lot, drivers pay according to the number of hours or parts thereof. The probability distribution of the number of hours that cars are parked has been estimated as follows: X 1 2 3 4 5 6 7 8 P(X) .24 .18 .13 .10 .07 .04 .04 .20 a. Find the mean and standard deviation of the number of hours that cars are parked in the lot. b. If the cost of parking is $2.50 per hour, calculate the mean and standard deviation of the amount of revenue each car generates.

          2. When parking a car in a downtown parking lot, drivers pay
according to the number of hours or parts thereof. The probability
distribution of the number of hours that cars are parked has been
estimated as follows:
X                 
1       
2       
3       
4       
5       
6       
7        8
P(X)            
.24     .18    
.13     .10    
.07     .04    
.04     .20
a. Find the mean and standard deviation of the number of hours
that cars are parked in the lot.
b. If the cost of parking is $2.50 per hour, calculate the mean
and standard deviation of the amount of revenue each car
generates.

Added by Anthony A.

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