The number of suits sold per day at a retail store is shown inthe table, with th
ID: 2917279 • Letter: T
Question
The number of suits sold per day at a retail store is shown inthe table, with the corresponding probabilities. Find themean, variance, and standard deviation of the distribution. Numer of suits soldX 19 20 21 22 23 Probability 0.2 0.2 0.3 0.2 0.1 If the manager of the retail store wants to be sure that hehas enough suits for the next 5 days, how many should the managerpurchase? The number of suits sold per day at a retail store is shown inthe table, with the corresponding probabilities. Find themean, variance, and standard deviation of the distribution. Numer of suits soldX 19 20 21 22 23 Probability 0.2 0.2 0.3 0.2 0.1 If the manager of the retail store wants to be sure that hehas enough suits for the next 5 days, how many should the managerpurchase?Explanation / Answer
Mean: = E(X) = xp(x) = (19)(.2) + (20)(.2) + (21)(.3)+ (22)(.2) + (23)(.1) = 20.8 Variance: 2 = V(X) = E(X-)2 =(x-)2p(x) = (19-20.8)2(.2) +(20-20.8)2(.2) + (21-20.8)2(.3) +(22-20.8)2(.2) + (23-20.8)2(.1) = 81/125 +16/125 + 3/250 + 36/125 + 121/250 = 39/25 = 1.56 Standard Deviation: = +2 =1.56 = 1.25 Need to purchase: = 20.8