The random variable x is the number of houses sold by a realtor in a single month at the Sendsom's
Real Estate office. Its probability distribution is as follows. Find the expected number of houses
sold in a month.
Houses Sold (x) Probability P(x)
0 0.24
1 0.01
2 0.12
3 0.16
4 0.01
5 0.14
6 0.11
7 0.21
A) 3.50 B) 3.35 C) 3.40 D) 3.60
I'm not sure if the answer is A or C can someone please help me.
Can some one please help me with this one...
I have gotten the answer already I have worked out the problem and I came up with 3.60 I mult. across. then added the answers all together..
To find the expected number of houses sold in a month, you need to multiply each possible value of houses sold by its corresponding probability, and then sum all the products.
Let's calculate the expected value step-by-step:
1. Multiply each value of houses sold (x) by its corresponding probability (P(x)):
0 * 0.24 = 0
1 * 0.01 = 0.01
2 * 0.12 = 0.24
3 * 0.16 = 0.48
4 * 0.01 = 0.04
5 * 0.14 = 0.70
6 * 0.11 = 0.66
7 * 0.21 = 1.47
2. Sum all the products calculated in step 1:
0 + 0.01 + 0.24 + 0.48 + 0.04 + 0.70 + 0.66 + 1.47 = 3.60
The expected number of houses sold in a month is 3.60.
Therefore, the correct answer is D) 3.60.
To find the expected number of houses sold in a month, you need to multiply each possible outcome by its probability and sum them up.
Let's calculate it step by step:
House Sold (x) Probability P(x) x * P(x)
0 0.24 0 * 0.24 = 0
1 0.01 1 * 0.01 = 0.01
2 0.12 2 * 0.12 = 0.24
3 0.16 3 * 0.16 = 0.48
4 0.01 4 * 0.01 = 0.04
5 0.14 5 * 0.14 = 0.70
6 0.11 6 * 0.11 = 0.66
7 0.21 7 * 0.21 = 1.47
Now, sum up all the results:
0 + 0.01 + 0.24 + 0.48 + 0.04 + 0.70 + 0.66 + 1.47 = 3.60
The expected number of houses sold in a month is 3.60.
Therefore, the correct answer is D) 3.60.