In a company with 20 employees, there are 7 earning $10/hour, 3 earning $12/hour, 4 earning $15/hour, 2 earning $20/hour,…
In a company with 20 employees, there are 7 earning $10/hour, 3 earning $12/hour, 4 earning $15/hour, 2 earning $20/hour, and 4 earning $24/hour. One person from the company is selected at random. a. What is the expected value of the person’s salary? b. What is the variance? c. What is the standard deviation?
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