Belk Department Store is having a special sale this weekend. Customers charging purchases of more than $50 to their Belk

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Belk Department Store Is Having A Special Sale This Weekend Customers Charging Purchases Of More Than 50 To Their Belk 1 (61.84 KiB) Viewed 76 times

Belk Department Store is having a special sale this weekend. Customers charging purchases of more than $50 to their Belk credit card will be given a special Belk Lottery card. The customer will scratch off the card, which will indicate the amount to be taken off the total amount of the purchase. Listed below are the amount of the prize and the percent of the time that amount will be deducted from the total amount of the purchase. Prize Amount $ 10 25 50 100 Probability 0.50 0.40 0.08 0.02 Click here for the Excel Data File a. What is the probability that the deducted amount is $50 or more? (Round your answer to 2 decimal places.) Probability b. What is the mean amount deducted from the total purchase amount? Mean c. What is the standard deviation of the amount deducted from the total purchase? (Round your answer to 2 decimal places.) Standard deviation