Inspecting Meat Is a Very Important Part of the Process

question 1

Essay

Inspecting meat is a very important part of the process of ensuring healthy food. So that meat inspectors do not fall into a pattern of inspection, they use a 4-sided die to decide whether or not to sample the meat from a particular "side" of beef. The meat inspector rolls the die and if it comes up a 4, a sample is taken of that meat. Forty sides of beef are available for possible inspection. Define random variable x = number of sides selected for inspection out of the 40 available.
a) What is the mean of the random variable x?
b) What is the standard deviation of the random variable x?

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Definitions:

Stockholders' Equity

The leftover value in a company's assets after all obligations are removed.

Intangible Items

Assets that lack physical substance but hold value for a business, such as patents, trademarks, and goodwill.

Physical Items

Tangible objects that can be seen, touched, and measured, encompassing both inventory for sale and assets used in operations.

Assets

Resources owned or controlled by a person or business, which are expected to produce economic value or benefits in the future.