Suppose that the distribution of oil prices ($/bbl) is forecast to be 7(43, 57, 109). (a) Find the mean. (Round your answer to 2 decimal places.) Mean

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.3: Special Probability Density Functions
Problem 53E
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Section Exercise 7-72 (Algo)
Suppose that the distribution of oil prices ($/bbl) is forecast to be 7(43, 57, 109).
(a) Find the mean. (Round your answer to 2 decimal places.)
Mean
(b) Find the standard deviation. (Round your answer to 2 decimal places.)
Standard deviation
(c) Find the probability that the price will be greater than $100. (Round your answer to 4 decimal places.)
Probability
Transcribed Image Text:Section Exercise 7-72 (Algo) Suppose that the distribution of oil prices ($/bbl) is forecast to be 7(43, 57, 109). (a) Find the mean. (Round your answer to 2 decimal places.) Mean (b) Find the standard deviation. (Round your answer to 2 decimal places.) Standard deviation (c) Find the probability that the price will be greater than $100. (Round your answer to 4 decimal places.) Probability
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