What is variance and standard deviation of the service calls

Assignment Help Business Economics

Reference no: EM13978619

A volunteer ambulance service handles 0 to 5 service calls on any given day. The probability distribution for the number of service calls is shown below. NUMBER OF SERVICE CALLS PROBABILITY 0 .10 1 .15 2 .30 3 .20 4 .15 5 .10 a) What is the expected value or mean number of service calls?

b) What is the variance and standard deviation of the service calls?

Reference no: EM13978619

Questions Cloud

Discussed why market based policy instruments : We have discussed why market based policy instruments are often superior to conventional command–and control instruments to solve environmental problems. But command -and-control regulations, such as a uniform standard for all polluters, sometimes wo..

Class to mitigate commodity price volatility risk : How can organizations mitigate commodity price volatility? What factors exist that facilitate or hinder the ability of firms to implement the techniques discussed in class to mitigate commodity price volatility risk?

Manager of firm that produces output in two plants : You are the manager of a firm that produces output in two plants. The demand for your firm's product is P = 80-Q, where Q = Q1 + Q2. The marginal cost associated with producing in the two plants are MC1 = Q1 and MC2 = 8. How much output should be pro..

Individual components of the money supply : The terms below are measures or individual components of the money supply. Specifically considering the money supply of the United States, rank these items from largest to smallest in terms of dollar value. M2, currency, travelers checks, balances in..

What is variance and standard deviation of the service calls : A volunteer ambulance service handles 0 to 5 service calls on any given day. The probability distribution for the number of service calls is shown below. NUMBER OF SERVICE CALLS PROBABILITY 0 .10 1 .15 2 .30 3 .20 4 .15 5 .10 What is the expected val..

Increases purchases in an economy with a recessionary gap : Suppose the government increases purchases in an economy with a recessionary gap. How would this policy affect bond prices, interest rates, investment, net exports, real GDP, and the price level? Show your results graphically.

How much data is actually required for real-time reporting : A business has launched a new product line that has resulted in significant business and related data growth. A database/TPS application is facing issues with using too much disk storage. It is becoming critical and the organization may need to buy a..

Importance in terms of revenue collected among federal taxes : Which is the correct order of importance in terms of revenue collected among the following federal taxes? The marginal productivity principle says that a profit-maximizing firm should. An employer would never operate on the upward-sloping part of an ..

Investments ooportunities in e-sports : Task A: Report, 1250 words: Investments OOportunities in E-sports for "Norling PLC". Task B, Presentation reflection, 500 words. Task C, Critical essay, "Violence sells, but at what cost? Discuss whether violence in video games can be shown to have a..

User Account

All Pages