Revenue A publishing company introduces a new weekly magazine that sells for $4.95. The marketing group of the company estimates that the sales x (in thousands) will be approximated by the following probability function. Find E
X | 10 | 15 | 20 | 30 | 40 |
P(x) | 0.25 | 0.30 | 0.25 | 0.15 | 0.05 |
To calculate: The value of expected revenue, variance and standard deviation for probability distribution given as,
x | 10 | 15 | 20 | 30 | 40 |
P(x) |
Given Information:
The random variable and their probability are given as,
x | 10 | 15 | 20 | 30 | 40 |
P(x) |
Formula used:
In the case, the set of values of a discrete random variable consist in district values
If mean
And the standard deviation,
Calculation:
Consider the given information,
And,
Single Variable Calculus: Early Transcendentals, Volume I
Precalculus: Mathematics for Calculus (Standalone Book)
Multivariable Calculus
Finite Mathematics and Applied Calculus (MindTap Course List)
Calculus: Early Transcendentals
Calculus: Early Transcendental Functions
Essentials Of Statistics
Essentials of Statistics for The Behavioral Sciences (MindTap Course List)
Single Variable Calculus
Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach
Calculus (MindTap Course List)
Understanding Basic Statistics
Finite Mathematics
Statistics for The Behavioral Sciences (MindTap Course List)
Intermediate Algebra
Probability and Statistics for Engineering and the Sciences
Mathematical Excursions (MindTap Course List)
Elementary Technical Mathematics
Mathematical Applications for the Management, Life, and Social Sciences
Single Variable Calculus: Early Transcendentals
Trigonometry (MindTap Course List)
Elements Of Modern Algebra
Elementary Geometry For College Students, 7e
Contemporary Mathematics for Business & Consumers
Calculus of a Single Variable
Calculus: Early Transcendental Functions (MindTap Course List)
Elementary Geometry for College Students
Finite Mathematics for the Managerial, Life, and Social Sciences