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The probability distribution of the daily demand for a product is shown below.
Demand Probability0 0.051 0.102 0.153 0.354 0.205 0.106 0.05
a. What is the expected number of units demanded per day?b. Determine the variance and the standard deviation.
In fact, the insurance company sees that in the entire population of homeowners, the mean loss from ?re is μ = $300 and the standard deviation of the loss is σ = $400.
Find the probability that both products successfully complete the two-part process.- Find the probability that neither product successfully completes the two-part process.
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