What are the mean and standard deviation of the discount percentage? ...

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The probabilities of a retailer discounting merchandise after Thanksgiving by 20%, 30%, 40%, and 50% are 0.1, 0.4, 0.4, and 0.1 respectively. What are the mean and standard deviation of the discount percentage?

    • 8 years ago
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    (b) Variance = Σ [x^2 * P(x)] - Mean^2 = 1290 - 35^2 = 65
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