When a construction project is opened for bidding, two proposals are received with probability 0.11, three proposals

Question:

When a construction project is opened for bidding, two proposals are received with probability 0.11, three proposals are received with probability 0.19, four proposals are received with probability 0.55, and five proposals are received with probability 0.15.
(a) What is the expectation of the number of proposals received?
(b) What is the standard deviation of the number of proposals received?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Question Posted: