Solution-Compute expected value for number of bedrooms in

Compute expected value for number of bedrooms in houses

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Reference no: EM13880804

The American Housing Survey reported the following data on the number of bedrooms in owner-occupied and renter-occupied houses in central cities (U.S. Census Bureau website, March 31, 2003).

Number of Houses(1000s)Bedrooms Renter- Occupied Owner-Occupied0 547 231 5012 5412 6100 3832 3 2644 8690 4 557 3783

a. Define a random variable x number of bedrooms in renter-occupied houses and develop a probability distribution for the random variable. (Let x 4 represent 4 or more bedrooms.)

b. Compute the expected value and variance for the number of bedrooms in renteroccupied houses.

c. Define a random variable y number of bedrooms in owner-occupied houses and develop a probability distribution for the random variable. (Let y 4 represent 4 or more bedrooms.)

d. Compute the expected value and variance for the number of bedrooms in owneroccupied houses.

e. What observations can you make from a comparison of the number of bedrooms in renter-occupied versus owner-occupied homes?

Reference no: EM13880804

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Compute expected value for number of bedrooms in houses

Reference no: EM13880804

Reference no: EM13880804

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