SOMEONE PLEASE HELP RIGHT NOW I NEED TO COMPLETE THIS ASAP I WILL PAYPAL WHOEVER DOES THIS!!! company that sells binders decides to run a promotion on their 1-inch and 2-inch size binders. They discount the 1-inch binders to $1 per binder and discount the 2-inch binders to $2 per binder. They limit sales to a quantity of 5 of each size of binder per customer. The probability distribution of “X = the number of 1-inch binders purchased by a single customer during the promotion period” is given in the table below. a) Compute the mean and standard deviation of X.
b) The company’s cost of manufacturing a single 1-inch binder is $0.25. What is the expected profit (in dollars) that the company will make, per customer, for 1-inch binder sales during the promotion?
c) The mean and standard deviation of “Y = the number of 2-inch binders purchased by a single customer” is 2.74 and 1.25, respectively. Assume that the number of 1-inch and 2-inch binders purchased are independent random variables. What are the mean and standard deviation of the total number of binders purchased by a single customer?
d) The company’s cost of manufacturing a single 2-inch binder is $0.55. What is the total expected profit (in dollars) that the company will make, per customer, during the promotion?