An Internet Service Provider (ISP) offers its customers three options: Basic: Standard internet for everyday needs,

Question:

An Internet Service Provider (ISP) offers its customers three options:
• Basic: Standard internet for everyday needs, at $23.95 per month.

• Premium: Fast internet speeds for streaming video and downloading music, at $29.95 per month.

• Ultra: Super-fast internet speeds for online gaming, at $39.95 per month.
Ultra is the company’s least popular option; they have twice as many Premium customers, and three times as many Basic customers:
(a) Let X be the monthly fee paid by a randomly selected customer. Give the probability distribution of X.
(b) What is the mean of X? (This is the company’s average monthly revenue per customer.)
(c) What is the standard deviation of X?

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...

Fantastic news! We've Found the answer you've been seeking!