How much do you get paid? MINIMUM WAGE 22 PAYDAY! 29 Suppose you got a new job and each day your boss (Mrs. Gallas) draws a slip of paper from a bag to determine your wage for the day. Let the random variable X = daily wage ($ per hour). 1. What is your wage for the day? 10 and complete the table below. Add your data to the table on the board 1 5 7 10 15 25 X Probability 10 50 56 70 2. State the formula and then use the calculator to calculate the expected value of x. Interpret the expected value of X. 100 130 250 3. State the formula and then use the calculator to calculate the standard deviation for the probability distribution. 4. Interpret the standard deviation. Home New: List & Spreadsheets L1 and L2 (with labels) CTL.1, add calc Type sum(var x *var prob) ente sum(x-Ans) ARS 12. 5. Mrs. Gallas decides she would rather assign wages so that employees could get any amount from $10 to $20. Draw a graph to represent this probability distribution. 6. What is the probability that an employee makes between $12 and $12.50? CTATC