B. Standard Deviation = 2.8532 The cost of parking is 3.25 dollars per hour. Calculate the mean and standard deviation of the amount of revenue each car generates. A. Mean = 14.342 B. Standard Deviation = 12.5911716

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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:
A. Mean =
4.413
B. Standard Deviation = 2.8532
Tr
TTT
X
12
1
2 3 4 5 6 7 8
P(X) 0.235 0.123 0.121 0.091 0.05 0.023 0.039 0.318
The cost of parking is 3.25 dollars per hour. Calculate the mean and standard deviation of the amount of revenue each car generates.
A. Mean = 14.342
B. Standard Deviation = 12.5911716
●
Transcribed Image Text: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: A. Mean = 4.413 B. Standard Deviation = 2.8532 Tr TTT X 12 1 2 3 4 5 6 7 8 P(X) 0.235 0.123 0.121 0.091 0.05 0.023 0.039 0.318 The cost of parking is 3.25 dollars per hour. Calculate the mean and standard deviation of the amount of revenue each car generates. A. Mean = 14.342 B. Standard Deviation = 12.5911716 ●
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