Question: Please explain both questions with explanation l. A consignment of machine parts is offered to two rms, A and B, for CND$ 75,000. The following

Please explain both questions with explanation

Please explain both questions with explanation l. A consignment of machine parts

l. A consignment of machine parts is offered to two rms, A and B, for CND$ 75,000. The following table shows the probabilities at which rms A and B will be able to sell the consignment at different prices. Number of Cars Relative x x P(x) x2 x P(x) Per Households x Requiem-v, P(x) 0 0.10 0.10 0.00 l 0.30 0.30 0.30 2 0:10 0.80 1.60 3 0.12 0.36 1.03 + 0.06 0.2-1 0.96 3:: 0.02 0.10 0.50 1.80 4.44 Which rm, A or B, will be more inclined towards this offer? (25 marks) 2. The Pizza Palace offers three sizes of cola. The smallest size sells for $1.99, the medium for $2.49, and the large for $2.89. Thirty percent of the drinks sold are small, 50% are medium, and 20% are large. Create a probability distribution for the random variable price and answer the following questions. (a) Is this a discrete probability distribution? Indicate why or why not. (10) (b) Compute the mean amount charged for a cola. (5 mark) (0) What is the variance in the amount charged for a cola? The standard deviation? (l0)

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