Determine the expected value variance and standard deviation of X.

spicy Show more Sahara Lexingtons best restaurant is considering an all-you-can-eat special on their famous spicy chicken entree. Based on a similar promotion a few years back the owners have assembled a probability distribution for the random variable X representing the number of servings of chicken a customer will eat: x p(x) 1 .210 2 .535 3 .199 4 .056 a. Determine the expected value variance and standard deviation of X. b. Suppose that a serving of chicken costs the restaurant $5. What is the minimum price for the all-you- can-eat option so that to break even in expectation? c. What is the minimum price for the all-you-can-eat option so that they break even or better with 94.4% probability? Show less

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Approximately 250 words