Question: I take 4 envelopes and put money in each as follows:

1 ^st envelope $1

2 ^nd envelope $1

3 ^rd envelope $5

4 ^th envelope $10

And I ask you to randomly select an envelope and you get to keep the money.

1. Write down the probability distribution that goes with the above story.
2. Find the mean (expected value) and standard deviation for this distribution.

Price: $2.99

Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document