Question

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.


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  • CreatedAugust 25, 2015
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