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Compute the mean amount charged for a cola

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The Pizza Palace offers three sizes of cola-small, medium, and large-to go with its pizza. The colas are sold for $0.80, $0.90, and $1.20, respectively. Thirty percent of the orders are for small, 50% are for medium, and 20 % are for the large sizes. Organize the size of the cola and the probability of a sale into a probability distribution.

a) Is this a discrete probability distribution? Indicate why or why not.

b) Compute the mean amount charged for a cola.

c) What is the variance in the amount charged for cola?

d) What is the standard deviation?

Reference no: EM132167798

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