Answer:
The standard deviation will remain unchanged.
Step-by-step explanation:
Given
Solving (a): The range
This is calculated as:
Where:
So:
Solving (b): The variance
First, we calculate the mean
The variance is calculated as:
So, we have:
![\sigma^2 =\frac{1}{6-1}*[(136 - 135)^2 +(129 - 135)^2 +(141 - 135)^2 +(139 - 135)^2 +(138 - 135)^2 +(127 - 135)^2]](https://tex.z-dn.net/?f=%5Csigma%5E2%20%3D%5Cfrac%7B1%7D%7B6-1%7D%2A%5B%28136%20-%20135%29%5E2%20%2B%28129%20-%20135%29%5E2%20%2B%28141%20-%20135%29%5E2%20%2B%28139%20-%20135%29%5E2%20%2B%28138%20-%20135%29%5E2%20%2B%28127%20-%20135%29%5E2%5D)
![\sigma^2 =\frac{1}{5}*[162]](https://tex.z-dn.net/?f=%5Csigma%5E2%20%3D%5Cfrac%7B1%7D%7B5%7D%2A%5B162%5D)
Solving (c): The standard deviation
This is calculated as:
--- approximately
Solving (d): With the stated condition, the standard deviation will remain unchanged.
P = .50c - 75
You need work your cost into your total profit, $75, which was spent. Since that money was lost, we can say it is -$75. You make 50¢ per cup of hot choclate, which is $0.50. Putting that all together, you can make the function P = .50c - 75.
Answer:
$19,100
Step-by-step explanation:
The expected profit would be the probability of profit multiplied by the profit and the sum of probability of loss multiiplied by the loss.
So, we can say:
E(p) = P(p)*P + P(L)*L
Where
E(p) is expected profit
P(p) is probabilty of profit (0.7)
P is the profit (35,000)
P(L) is probability of loss (0.3)
L is the loss (-18,000)
Substituting these values, we get:
E(p) = P(p)*P + P(L)*L
E(p) = (0.7)(35,000) + (0.3)(-18,000)
E(p) = 19,100
The expected profit is $19,100
