Mathematics, 18.01.2021 14:00, pevin2955
A phone manufacturer offers its customers two different versions of the same phone. The low storage version costs $350, and the high storage version costs $450. let X represent the manufacturer's income on a randomly chosen purchase of this phone. Based on previous data, here's the probability distribution of X along with summary statistics:
Low capacity High capacity
х income ($) 350 450
P(X) 0.65 0.35
Mean: μx=$385
Standard deviation: σx= $48
The manufacturer is considering a $25 price increase on both versions of the phone. Assume that this increase will not change the probability that corresponds to each version. Let Y represent their income on a randomly chosen purchase of this higher priced phone. What are the mean and standard deviation of Y?
Answers: 2
![Var _{(Y)} = \Big [(375)^2 \times 0.65 + (475)^2 \times 0.35 \Big ]- (410)^2](/tpl/images/1043/1214/a88f7.png)
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A phone manufacturer offers its customers two different versions of the same phone. The low storage...
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