The director of admissions at Kinzua University in Nova Scotia estimated the distribution of student admissions for

Question:

The director of admissions at Kinzua University in Nova Scotia estimated the distribution of student admissions for the fall semester on the basis of past experience. What is the expected number of admissions for the fall semester? Compute the variance and the standard deviation of the number of admissions.

Prize Amount .............................................. Probability
$ 10.............................................................................. .50
25................................................................................ .40
50................................................................................ .08
100................................................................................ .02

a. What is the mean amount deducted from the total purchase amount?
b. What is the standard deviation of the amount deducted from the total purchase?

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...