The operator of a museum exhibit has found that 30% of the visitors donate the dollar that

Question:

The operator of a museum exhibit has found that 30% of the visitors donate the dollar that has been requested to help defray costs, with the others leaving without paying. Three visitors are on their way into the exhibit. Assuming that they will be making independent decisions on whether to donate the dollar that has been requested:
a. Determine the mean and standard deviation for x = the amount paid by individual visitors.
b. Determine the mean and the standard deviation for the sampling of} x for samples consisting of 3 visitors each. Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...