Answered: of hybrid cars that have be requested…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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The number of hybrid cars that have be requested for rental from a car rental office during a 50 day sample period is given in the following table.

       Demand for Cars      Number of Days     Probability
                  3                          3                    0.06
                  4                          7                    0.14
                  5                        12                    0.24
                  6                        14                    0.28
                  7                        10                    0.20
                  8                          4                    0.08
                                            50                    1.00

What is the expected (mean) number of hybrid rentals per day? Compute to one decimal place.

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What is the variance of the number of hybrid rentals per day?

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