Provide an Appropriate Response $\begin{array}{|c|c|}\hline x & P(x) \\\hline 0 & 0.37 \\1 & 0.13 \\2 & 0.06 \\3 & 0.15 \\4 & 0.29 \\\hline\end{array}$

question 62

Multiple Choice

Provide an appropriate response. Round to the nearest hundredth.
-Find the standard deviation for the given probability distribution. $\begin{array}{|c|c|}\hline x & P(x) \\\hline 0 & 0.37 \\1 & 0.13 \\2 & 0.06 \\3 & 0.15 \\4 & 0.29 \\\hline\end{array}$

• A)\(\sigma = 2.90\)
• B) \(\sigma = 1.70\)
• C) \(\sigma = 2.52\)
• D) \(\sigma = 1.81\)

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Definitions:

Demand

The quantity of a product or service that consumers are willing and able to purchase at various price levels at a given time.

Price

The monetary amount anticipated, imperative, or tendered in exchange for something.

Price-discriminating Monopolist

A monopolist that charges different prices to different consumers or groups of consumers for the same product or service, to maximize profit.

Market

A place or mechanism where buyers and sellers of goods and services interact to facilitate exchange, typically resulting in the determination of prices.