Question

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

X	1	2	3	4	5	6	7	8
P(X)	0.227	0.144	0.106	0.08	0.064	0.023	0.02	0.336

Round to three decimal places as necessary.

Mean =

Standard Deviation =

The cost of parking is $ 3.75 dollars per hour. Calculate the mean amount of revenue each car generates(to the nearest penny).

Expected revenue per car =

Answer 1