TABLE 5-8 Two Different Designs on a New Line of Winter Jackets

question 11

Short Answer

TABLE 5-8
Two different designs on a new line of winter jackets for the coming winter are available for your manufacturing plants. Your profit (in thousands of dollars) will depend on the taste of the consumers when winter arrives. The probability of the three possible different tastes of the consumers and the corresponding profits are presented in the following table.

-Referring to Table 5-8, what is the variance of your profit when Design A is chosen?

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Definitions:

Focus

A point used in the definitions of conic sections, such as ellipses and hyperbolas, from which distances are measured to define the curves.

Vertex

The point where two lines, or edges, of a geometric figure meet; in the context of a parabola, the peak or the lowest point, depending on its orientation.

Circle

A round plane figure, every point of which is equidistant from a fixed center point, defined by the equation (x-h)^2 + (y-k)^2 = r^2 in a coordinate plane.

Radius

The distance from the center of a circle to any point on its circumference.