The probability distribution of the daily demand for a product is shown below. 
a.What is the expected number of units demanded per day?
b.Determine the variance and the standard deviation.
Definitions:
Adverse Selection
A situation where asymmetric information leads to the selection of undesirable risks or goods, particularly noticeable in insurance and finance markets.
Labor Market
The supply and demand for labor, where employers seek to hire employees, and individuals offer their work or services.
Screening
The process of evaluating or examining something to ascertain its condition or identify the presence of something.
Signals
Actions or indicators that convey information or intentions in various contexts, such as economics, where they can indicate future behavior or trends.
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