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Determining the expected attendance

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Reference no: EM132114832

Problem:

You are organizing an outdoor concert for next week and believe attendance will depend on the weather. You consider the following possibilities are appropriate:

Weather                           Probability = F(x)                              Attendance = X                            

Terrible weather                     0.2                                                     500

Mediocre weather                  0.6                                                     1000

Great weather                       0.2                                                      2000

1.  Let X denote the attendance. Why is X a random variable?

2. What is the expected attendance?

Reference no: EM132114832

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