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A bank receives an average of 3 bad checks per day, if the receipt of said...

A bank receives an average of 3 bad checks per day, if the receipt of said checks occurs in a random and independent way.

a) Y: The administrative costs per day of checks received without funds is a linear function of X: Number of checks received without funds on the day, Y = H(X) = 200 + 100X. Determine and interpret E(Y) and its standard deviation.

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