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) 0.222 0.138 0.123 0.084 0.064 0.039 0.031 0.299 A. Mean = B. Standard Deviation = The cost of parking is 3.75 dollars per hour. Calculate the mean and standard deviation of the amount of revenue each car generates. A. Mean = B. Standard Deviation =

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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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) 0.222 0.138 0.123 0.084 0.064 0.039 0.031 0.299

A. Mean =

B. Standard Deviation =

The cost of parking is 3.75 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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