The following table shows part of the probability distribution for the number of boats sold daily at Boats Unlimited. It is known that the average number of boats sold daily is 1.57.
Compute the variance and the standard deviation for this probability distribution.
Definitions:
Credential Inflation
The devaluation of educational qualifications over time, requiring higher levels of education to qualify for certain jobs.
Cultural Capital
Non-financial social assets that promote social mobility beyond economic means, including education, intellect, style of speech, and appearance.
Professionalization
The process by which an occupation transforms into a profession, typically involving the development of formal training programs, ethical standards, and officially recognized certification.
Protestantism
A branch of Christianity originating from the Reformation in the 16th century, emphasizing salvation through faith alone, the priesthood of all believers, and the authority of the Bible.
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