The following table gives the probability that a jeweler will sell 0,1,2,3,4 ,or 5 wrist watches...

Question

Question

The following table gives the probability that a jeweler will sell 0,1,2,3,4 ,or 5 wrist watches on any given day.

Num of watches 0 1 2 3 4 5

Probability 0.05 0.20 0.30 0.25 0.15 0.05

Find the mean of this probability distribution

Find the standard deviation of the probability distribution

Answer 1

Answer #1

The table for calculation is:

Hence,

Mean = = 2.4

Standard deviation = = 1.241

Answer 2

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