Question the ferry companys expenses are 20 per trip define, Ask an Expert

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Question: The ferry company's expenses are $20 per trip. Define the random variable Y to be the amount of profit (money collected minus expenses) made by the ferry company on a randomly selected trip. That is, Y = M - 20.

(a) Find and interpret the mean of Y.

(b) Find and interpret the standard deviation of Y.

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Statistics and Probability, Statistics

Category:- Statistics and Probability
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