The following probability distribution represents the number of grievances filed per month with the MNM. Corporation. 
a.Determine the expected value of the number of grievances in a month.
b.Determine the variance.
c.Compute the standard deviation.
Definitions:
Market Rate
The prevailing interest rate available in the marketplace for securities or loans of a similar risk and maturity.
Corporation's Bonds
Debt securities issued by corporations to raise capital, with the promise to pay back the principal amount along with interest at specified dates.
Interest Rate
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage.
Premium
The excess of the issue price of bonds over their face amount; the excess of the issue price of stock over its par value.
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