a) Refrigerator sales - The number ofrefrigerators sold per day at a local appli
ID: 2955278 • Letter: A
Question
a) Refrigerator sales - The number ofrefrigerators sold per day at a local appliance store is shown inthe table, along with the corresponding probabilities. Findthe mean, variance and standard deviation #of Refrigerators SoldX 0 1 2 3 4 Probability P(X) 0.1 0.2 0.3 0.2 0.2 b) Number of Bedrooms - A recent survey byan insurance company showed the following probabilities for thenumber of bedrooms in each insured home. Find the Mean,Variance and Standard Deviation for the distribution. #of bedroomsX 2 3 4 5 ProbabilityP(X) 0.3 0.4 0.2 0.1 c) Job Bids - A landscapecontractor bids on jobs where he can make $3000 profit. Theprobabilities of getting one, two, three, or four jobs per monthare shown. #ofjobs 1 2 3 4 Probability 0.2 0.3 0.4 0.1 d) A lottery offers one $1000 prize, one $500 prize andfive $100 prizes. One thousand tickets are sold at $3each. Find the expectation if a person buys twotickets. Assume that the player's ticket is replaced aftereach draw and that the same ticket can win more than oneprize. a) Refrigerator sales - The number ofrefrigerators sold per day at a local appliance store is shown inthe table, along with the corresponding probabilities. Findthe mean, variance and standard deviation #of Refrigerators SoldX 0 1 2 3 4 Probability P(X) 0.1 0.2 0.3 0.2 0.2 b) Number of Bedrooms - A recent survey byan insurance company showed the following probabilities for thenumber of bedrooms in each insured home. Find the Mean,Variance and Standard Deviation for the distribution. #of bedroomsX 2 3 4 5 ProbabilityP(X) 0.3 0.4 0.2 0.1 c) Job Bids - A landscapecontractor bids on jobs where he can make $3000 profit. Theprobabilities of getting one, two, three, or four jobs per monthare shown. #ofjobs 1 2 3 4 Probability 0.2 0.3 0.4 0.1 d) A lottery offers one $1000 prize, one $500 prize andfive $100 prizes. One thousand tickets are sold at $3each. Find the expectation if a person buys twotickets. Assume that the player's ticket is replaced aftereach draw and that the same ticket can win more than oneprize. Probability 0.2 0.3 0.4 0.1 d) A lottery offers one $1000 prize, one $500 prize andfive $100 prizes. One thousand tickets are sold at $3each. Find the expectation if a person buys twotickets. Assume that the player's ticket is replaced aftereach draw and that the same ticket can win more than oneprize.Explanation / Answer
mean, = XP(X) =2.2variance, 2 = X2P(X) -2 = 6.4 - 2.22 = 1.56 standard deviation, = 1.249 b) # of bedrooms X 2 3 4 5 Probability P(X) 0.3 0.4 0.2 0.1 XP(X) 0.6 1.2 0.8 0.5 X2P(X) 1.2 3.6 3.2 2.5 mean, = XP(X) =3.1
variance, 2 = X2P(X) -2 = 10.5 - 3.12 =0.89 standard deviation, = 0.94 c) # of jobs X 1 2 3 4 Probability P(X) 0.2 0.3 0.4 0.1 XP(X) 0.2 0.6 1.2 0.4 X2P(X) 0.2 1.2 3.6 1.6 mean, = XP(X) =2.4
variance, 2 = X2P(X) -2 = 6.6 - 2.42 = 0.84 standard deviation, = 0.92 mean, = XP(X) =3.1
variance, 2 = X2P(X) -2 = 10.5 - 3.12 =0.89 standard deviation, = 0.94 c) # of jobs X 1 2 3 4 Probability P(X) 0.2 0.3 0.4 0.1 XP(X) 0.2 0.6 1.2 0.4 X2P(X) 0.2 1.2 3.6 1.6 mean, = XP(X) =2.4
variance, 2 = X2P(X) -2 = 6.6 - 2.42 = 0.84 standard deviation, = 0.92 standard deviation, = 0.92 Sold X 0 1 2 3 4 Probability(X) 0.1 0.2 0.3 0.2 0.2 XP(X) 0 0.2 0.6 0.6 0.8 X2P(X) 0 0.2 1.2 1.8 3.2
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