Mathematics, 16.04.2020 23:34, jmolina57
A chemical supply company currently has in stock 100lb of a certain chemical, which it sells to customers in 5-lb lots. Let X = the number of lots ordered by a randomly chosen customer, and suppose that X has pmf x 1 2 3 4 P(x) .2 .3 .3 .2 Compute E(X) and V(X). Then compute the expected number of pounds left after the next customer’s order is shipped, and the variance of the number of pounds left. (Hint: The number of pounds left is a linear function of X.)
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