Answer:
the requirements are missing, so I looked for a similar question.
<em>a. How many fliers do you think the automobile dealership sent out?
</em>
<em>
b. Using your answer to (a) and the probabilities listed on the flier, what is the expected value of the prize won by a prospective customer receiving a flier?
</em>
<em>
c. Using your answer to (a) and the probabilities listed on the flier, what is the standard deviation of the value of the prize won by a prospective customer receiving a flier?</em>
a) the total fliers sent out = 31,246 + 1 + 1 = 31,248
b) expected value = [(1 x $28,000) + (1 x $100) + (31,246 x $5)] / 31,248 = $5.90
c) σ² = [($28,000 - $5.90)² x 1] + [($100 - $5.90)² x 1] + [($5 - $5.90)² x 31,246] / 31,248 = ($783,669,634.80 + $8,854.81 + $25,309.26) / 31,248 = $25,080.13
σ = √$25,080.13 = $158.37
