The owner of an electronic store has read an advertisement from a local competit

Question

The owner of an electronic store has read an advertisement from a local competitor that guarantees all high-definition television (HDTV) repairs within four days. Based on his company's Number of experience, he wants to know if he can offer a similar guarantee. His past service records are used to determine the probability distribution shown to the right. Complete parts a through c below. 0.23 0.26 0.24 0.13 a. Calculate the mean number of days his customers wait for an HDTV repair. The mean is days. (Type an integer or a decimal.) b.Also calculate the variance and standard deviation The variance is days (Type an integer or a decimal ) The standard deviation isdays. (Round to four decimal places as needed.) c. Based on the calculations in parts a and b, what conclusion should the manager reach regarding his company's repair times? Based on the probability distribution, the chances of exceeding four days for repair time is Type an integer or a decimal.) Enter your answer in each of the answer boxes.

Explanation / Answer

from above

a) mean = 2.99

b)variance =1.5499

std deviation =1.2449

c)

P(X>4) =P(X=5) =0.13

d) for it les around 1std deviation away hence are between 2 and 4 days

e)

sample space:

option B is correct.

x p(x) xP(x) x2P(X) (x-)2 (x-)2P(x) 1 0.1400 0.140 0.140 3.960 0.554 2 0.2300 0.460 0.920 0.980 0.225 3 0.2600 0.780 2.340 0.000 0.000 4 0.2400 0.960 3.840 1.020 0.245 5 0.1300 0.650 3.250 4.040 0.525 total 1 = 2.99 10.490 10.001 2= 1.5499 std deviation=     =    2 = 1.2449

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