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An author receives a contract from a publisher, according to which he is to be paid a fixed sum of $10,000 plus $1.75 for each copy of his book sold. His uncertainty about total sales of the book can be represented by a random variable with a mean of 20,000 and a standard deviation of 8,500. Find the mean and standard deviation of the total payments he will receive. The mean of the total payments he will receive is $

An author receives a contract from a publisher, according to which he is to be paid a fixed sum of $10,000 plus $1.75 for each copy of his book sold. His uncertainty about total sales of the book can be represented by a random variable with a mean of 20,000 and a standard deviation of 8,500. Find the mean and standard deviation of the total payments he will receive. The mean of the total payments he will receive is $

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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An author receives a contract from a publisher, according to which he is to be paid a fixed sum of $10,000 plus $1.75 for each copy of his book sold. His uncertainty about total sales of the book can be represented by a random variable with a mean of 20,000 and a standard deviation of 8,500. Find the mean and standard deviation of the total payments he will receive. The mean of the total payments he will receive is $
Transcribed Image Text:An author receives a contract from a publisher, according to which he is to be paid a fixed sum of $10,000 plus $1.75 for each copy of his book sold. His uncertainty about total sales of the book can be represented by a random variable with a mean of 20,000 and a standard deviation of 8,500. Find the mean and standard deviation of the total payments he will receive. The mean of the total payments he will receive is $
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