Find the Expected Value and Standard Deviation of a Random

question 18

Multiple Choice

Find the expected value and standard deviation of a random variable.
-A small business just leased a new computer and color laser printer for three years.
The service contract for the computer offers unlimited repairs for a fee of $100 a year
Plus a $25 service charge for each repair needed. The company's research indicates that
During a given year 86% of these computers need no repairs, 9% need to be repaired
Once, 4% twice, 1% three times, and none required more than three repairs. The standard
Deviation in the number of repairs for this kind of computer per year is

• A) 0.20 repairs.
• B) 0.55 repairs.
• C) 0.89 repairs.
• D) 1.00 repairs.
• E) 1.20 repairs.

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