When parking a car in a downtown parking lot drivers pay, Ask an Expert

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When parking a car in a downtown parking lot, drivers pay according to the number of hours or fraction thereof. The probability distribution of the number of hours cars are parked has been estimated as follows:

X	1	2	3	4	5	6	7	8
P(X)	0.217	0.117	0.105	0.097	0.052	0.021	0.038	0.353

A. Mean =

B. Standard Deviation =

The cost of parking is 3.5 dollars per hour. Calculate the mean and standard deviation of the amount of revenue each car generates.

A. Mean =

B. Standard Deviation =

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M91020213

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