2) Due to price changes, the U.S. Postal Service (USPS) sells a variety of stamps which...

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2) Due to price changes, the U.S. Postal Service (USPS) sells a variety of stamps which are used to supplement stamps from prior to the price change. For example, the recent increase in the cost of Forever stamps from 46¢ to 49¢ requires the 46¢ stamp to be paired with a 3¢ stamp for mailing. Let X be the value of these supplemental stamps (in cents). Assume the demand for these stamps follows the distribution below: 1 0.05 2 0.16 3 0.37 4 0.12 X P(X = x) Calculate the standard deviation for the value of these stamps. 5 0.09 10 0.14 20 0.07 2) Due to price changes, the U.S. Postal Service (USPS) sells a variety of stamps which are used to supplement stamps from prior to the price change. For example, the recent increase in the cost of Forever stamps from 46¢ to 49¢ requires the 46¢ stamp to be paired with a 3¢ stamp for mailing. Let X be the value of these supplemental stamps (in cents). Assume the demand for these stamps follows the distribution below: 1 0.05 2 0.16 3 0.37 4 0.12 X P(X = x) Calculate the standard deviation for the value of these stamps. 5 0.09 10 0.14 20 0.07

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Lets proceed with the calculations Step 1 Calculate the mean expected value Mean EX x PXx EX 2 005 3 ... View the full answer