A lab orders a shipment of 100 rats a week for experiments that the lab conducts....
A lab orders a shipment of 100 rats a week for experiments that the lab conducts. Prices for each weekly shipment of rats follow the distribution below. Suppose the mean cost of the rats turned out to be$ 13.00 per week. Interpret this value.
Price $10.00 $12.50 $15.00
Probability. 0.25. 0.3. 0.45
Homework Answers
Answer:
Given,
Mean = E(X) = 
x*P(x)
= 10*0.25 + 12.50*0.3 + 15*0.45
= 2.5 + 3.75 + 6.75
= 13
So the average cost for all weekly shipment of rats purchase is $ 13.
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