Determine population mean - variance and standard deviation

Reference no: EM131399826

Imagine that an auto manufacturer wants to evaluate how potential customers will rate handling for a new car being considered for production.

Also suppose that if all potential customers were to rate handling on a 4-point scale, 1 being poor and 4 being excellent, the corresponding probabilities associated with these ratings would be p(1) = .2, p(2) = .4, p(3) = .3, and p(4) = .1.

Determine the population mean, variance and standard deviation.

Reference no: EM131399826

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