A small software company will bid on a major contract. It anticipates a profit of $200,000 if it gets it, but thinks there is only a 30% chance of that happening. a) What's the expected profit? b) Find the standard deviation for the profit.
A small software company will bid on a major contract. It anticipates a profit of $200,000 if it gets it, but thinks there is only a 30% chance of that happening. a) What's the expected profit? b) Find the standard deviation for the profit.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 14PPS
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A small software company will bid on a major contract. It anticipates a profit of
$200,000
if it gets it, but thinks there is only a
30%
chance of that happening.a) What's the expected profit?
b) Find the standard deviation for the profit.
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