When parking a car in a downtown parking lot, drivers pay according to the number of hours or fraction thereof. The probability distribution of the number of hours cars are parked has been estimated as follows:

A. Mean=

B. Standard Deviation=

The cost of parking is 5 dollars per hour. Calculate the mean and standard deviation of the amount of revenue each car generates.

A. Mean=

B. Standard Deviation

col1 X 1 2 3 4 5 6 7 8
col2 P(X) 0.229 0.113 0.114 0.076 0.052 0.027 0.031
0.358

a) Mean number of hours = 4.604 hours, Standard deviation = 2.9033 hours

b) Mean value of revenue = $23.02, Standard deviation = $14.5165

Step-by-step explanation:

We are given the following in the question:

X:            1         2          3         4            5           6          7          8

P(X):   0.229   0.113   0.114   0.076   0.052   0.027   0.031     0.358

a) Mean =

Variance =

b) The cost of parking is 5 dollars per hour.

Mean of revenue each car generates =

Standard deviation of revenue each car generates =

i think c. but don't trust it.

step-by-step explanation: