Random variables and probability distributions

Reference no: EM1399663

Sample question:

The random variable x is the number of houses sold by a realtor in a single month at the real-estate office. Its probability distribution is:

Houses sold (x)

Probability P(x)

0.09

0.24

0.21

0.17

0.03

0.15

0.09

0.02

a. Compute the mean of the random variable.

b. Compute the standard deviation of the random variable.

Reference no: EM1399663

Questions Cloud

Ellen benson case study : Ellen Benson has been functioning a small catering business out of her home. Business growth is now requiring an office as well as kitchen facilities

Test the claim for mean amount of time relief : A study was conducted with 35 people that resulted in a mean of 22.1 minutes with a standard deviation of 1.9 minutes. Using a .05 significance level, test the claim that the mean amount of time relief will be felt is less than 25 minutes.

What can a manager study from the characteristics of team : What can a manager study from the characteristics and activities of this particular team? How might the factors that underwrite to this team's success be adopted in a business setting?

Binomial-poisson probability distributions : Suppose you, as the manager of Tennessee Grilled Pork. would like to ensure you have enough cleaning staff for your dining room and would like to analyze data for customers who enter the restaurant to place and order and either eat in the restaura..

Random variables and probability distributions : The random variable x is the number of houses sold by a realtor in a single month at the real-estate office. Its probability distribution is:

Identify the key stakeholders as well as their roles : Identify the key stakeholders as well as their roles needed to achieve the organizational goals and recommend the collaborative interactions

Identify and explain the stages of contract formation : Maria, who lives in Seattle, sent Koji a letter via first class mail, stating, "Koji, I think your 2003 Ford SUV is worth $20,000. I will give you $20,000 cash for it."

Several marketing variables that impact the success : Although there are several marketing variables that impact the success or failure of strategy-implementation efforts two variables are central to the process. What are these variables

Production under normally distributed process : A production process manufactures items with weights that are normally distributed with mean 16 pounds and standard deviation 0.15 pound. An item is considered to be defective if its weight is less than 15.8 pounds or greater than 16.2 pounds.

User Account

All Pages