4. A certain brand of upright freezer is available in three different rated capacities: 16 ft3 ,18ft3, and 20ft3. Let X = the rated capacity of a freezer of this brand sold at a certain store. Suppose that X has pmf: X 16 18 20 P(x) 0.2 0.5 0.3 a. Compute E(X), E(X²), V(X) and standard deviation of X. b. If the price of a freezer having capacity X is 70X-650, what is the expected price paid by the next customer to buy a freezer? What is the variance of price paid by the next customer to buy a freezer?

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4. A certain brand of upright freezer is available in three different rated capacities: 16
ft3 ,18ft3, and 20ft3. Let X = the rated capacity of a freezer of this brand sold at a
certain store. Suppose that X has pmf:
X 16 18 20 P(x) 0.2 0.5 0.3
a. Compute E(X), E(X²), V(X) and standard deviation of X.
b. If the price of a freezer having capacity X is 70X-650, what is the expected price paid
by the next customer to buy a freezer? What is the variance of price paid by the next
customer to buy a freezer?
Transcribed Image Text:4. A certain brand of upright freezer is available in three different rated capacities: 16 ft3 ,18ft3, and 20ft3. Let X = the rated capacity of a freezer of this brand sold at a certain store. Suppose that X has pmf: X 16 18 20 P(x) 0.2 0.5 0.3 a. Compute E(X), E(X²), V(X) and standard deviation of X. b. If the price of a freezer having capacity X is 70X-650, what is the expected price paid by the next customer to buy a freezer? What is the variance of price paid by the next customer to buy a freezer?
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