A Small Business Just Leased a New Computer and Color

question 48

Essay

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 suggested that during a given year 86% of these computers needed no repairs, 9% needed to be repaired once, 4% twice,
1% three times, and none required more than three repairs.
-What are the mean and standard deviation of the company's annual expense for the service contract?

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Definitions:

Mini-infusion Pump

A small, portable pump used to administer medication in controlled amounts over time.

Intravenous Antibiotic

A medication administered through the veins to treat bacterial infections.

Immunization

The process of making a person immune or resistant to an infectious disease, typically by the administration of a vaccine.

Toddler

A young child, typically between the ages of 1 and 3 years old, who is learning to walk and develop basic motor skills.