A probability distribution for five possible market conditions is shown below, along with the expected demand in each state. Calculate the expectedvalue (mean) and standard deviation of demand.Market condition Probability Demand (Thousands of units)Terrible5%5Poor20%15Average50%30Good20%50Excellent5%75If you ignored the probability weights and assumed the market conditions were equally probable, the mean demand would be 35,000 units and thestandard deviation would be 25,100 units.Using the probability weights, calculate the following statistics:Expected mean =Standard deviation =

Demand 515305075TotalP(X=x)5%20%50%20%5%100%

Answered: Market condition Terrible Poor Average…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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