The ATM at a local convenience store allows customers to make withdrawals of $10, $20, $50, or $100. Let  denote a random variable that indicates the amount withdrawn by a customer. The probability...


The ATM at a local convenience store allows customers to make withdrawals of $10, $20, $50, or $100. Let
 denote a random variable that indicates the amount withdrawn by a customer. The probability distribution of
 is


(a) Draw the probability distribution of
.


(b) What is the probability that a customer withdraws more than $20?


(c) What is the expected amount of money withdrawn by a customer?


(d) The expected value is not a possible value of the amount withdrawn. Interpret the expected value for a manager.


(e) Find the variance and standard deviation of
.



May 04, 2022
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