What are the mean variance and standard deviation

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Reference no: EM131507103

Question: Annual profit (P) is the product of total annual sales (S) and profit per unit sold (X); that is, P = X · S. It is desired to know the probability distribution of the random variable P when X and S have the following assumed probability mass functions (X and S are independent):

X (Unit Profit) S (Annual Sales)

Value Probability Value Probability

0 0.05 5 0.4

1 0.45 6 0.2

2 0.30 8 0.4

3 0.20

What are the mean, variance, and standard deviation of the probability distribution for annual profit, P?

Reference no: EM131507103

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