A telecommunications company monitors the number of network outages per week across its regional centres. The probability distribution for the number of outages per week, \(X\), is shown in the table below. The company incurs a cost of $\$8{,}000$ per outage for emergency repairs, plus a fixed weekly monitoring cost of $\$12{,}000$ regardless of the number of outages. Determine the expected weekly total cost, in dollars, that the company will incur.
Mathematical Methods Β· Unit 3 Β· Discrete random variables Β· General discrete random variables
Determine and use the mean (expected value) of a discrete random variable as a measurement of centre, πΈ(π) = π = β ππ π₯π where ππ is the probability of outcome π₯π occurring.
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