Belk Department Store is having a special sale this weekend. Customers charging purchases of more than $50 to their Belk credit card will be given a special Belk Lottery card. The customer will scratch off the card, which will indicate the amount to be taken off the total amount of the purchase. Listed are the amount of the prize and the percent of the time that amount will be deducted from the total amount of the purchase. Prize AmountProbability$ 100.50250.40500.081000.02 What is the probability that the deducted amount is $50 or more? What is the mean amount deducted from the total purchase amount? What is the standard deviation of the amount deducted from the total purchase?
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50 - $250 with probability 0.40 - $500 with probability 0.08 - $1000 with probability 0.02 Show more…
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Belk Department Store is having a special sale this weekend. Customers charging purchases of more than $50 to their Belk credit card will be given a special Belk Lottery card. The customer will scratch off the card, which will indicate the amount to be taken off the total amount of the purchase. Listed below are the amount of the prize and the percent of the time that amount will be deducted from the total amount of the purchase. Prize Amount Probability $ 10 .50 25 .40 50 .08 100 .02 (a) What is the mean amount deducted from the total purchase amount? (b) What is the standard deviation of the amount deducted from the total purchase?
Jennifer S.
Belk Department Store is having a special sale this weekend. Customers charging purchases of more than $50 to their Belk credit card will be given a special Belk Lottery card. The customer will scratch off the card, which will indicate the amount to be taken off the total amount of the purchase. Listed below are the amount of the prize and the percent of the time that amount will be deducted from the total amount of the purchase. Prize Amount Probability 10 .50 25 .40 50 .08 100 .02 What is the standard deviation amount of this distribution? Leave answers in 2 decimal places.
Qudsiya A.
Levinson's Department Store is having a special sale this weekend. Customers charging purchases of more than $\$ 50$ to their store credit card will be given a special Levinson's Lottery card. The customer will scratch off the card, which will indicate the amount to be taken off the total amount of the purchase. Listed below are the amount of the prize and the percent of the time that amount will be deducted from the total amount of the purchase. $$ \begin{array}{|rc|} \hline \text { Prize Amount } & \text { Probability } \\ \hline \$ 10 & .50 \\ 25 & .40 \\ 50 & .08 \\ 100 & .02 \\ \hline \end{array} $$ a. What is the mean amount deducted from the total purchase amount? b. What is the standard deviation of the amount deducted from the total purchase?
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