# Question: Based on its analysis of the future demand for its

Based on its analysis of the future demand for its products, the financial department at Tipper Corporation has determined that there is a .17 probability that the company will lose $1.2 million during the next year, a .21 probability that it will lose $.7 million, a .37 probability that it will make a profit of $.9 million, and a .25 probability that it will make a profit of $2.3 million.

a. Let x be a random variable that denotes the profit earned by this corporation during the next year. Write the probability distribution of x.

b. Find the mean and standard deviation of the probability distribution of part a. give a brief interpretation of the value of the mean.

a. Let x be a random variable that denotes the profit earned by this corporation during the next year. Write the probability distribution of x.

b. Find the mean and standard deviation of the probability distribution of part a. give a brief interpretation of the value of the mean.

## Relevant Questions

GESCO Insurance Company charges a $350 premium per annum for a $100,000 life insurance policy for a 40-year-old female. The probability that a 40-year-old female will die within 1 year is .002. a. Let x be a random variable ...In a list of 15 households, 9 own homes and 6 do not own homes. Four households are randomly selected from these 15 households. Find the probability that the number of households in these 4 who own homes is a. Exactly 3 b. ...According to a survey, 60% of adults believe that all college students should be required to perform a specified number of hours of community service to graduate. Assume that this percentage is true for the current ...A charter bus company is advertising a singles outing on a bus that holds 60 passengers. The company has found that, on average, 10% of ticket holders do not show up for such trips; hence, the company routinely overbooks ...Find the area under the standard normal curve a. Between z = 0 and z = 1.95 b. Between z = 0 and z = –2.05 c. Between z = 1.15 and z 2.37 d. From z = 1.53 to z = –2.88 e. From z = –1.67 to z = 2.24Post your question