What is the probability that sales for november will be less

Assignment Help Basic Statistics

Reference no: EM13146082

A real estate salesperson has three properties listed for $40,000, $100,000 and $80,000. He thinks that the probability of selling the first listing in November is 1/2. The probabilities of selling the other two listings in November are 1/4 and 3/4 respectively. Determine the probability mass function of the salesperson's November sales (in $). What is the probability that his sales for November will be less than $100,000? Find the mean, variance, and standard deviation of the November sales.

Reference no: EM13146082

Questions Cloud

Write a letter of application based on stated requirements : Write a letter of application based on the stated requirements of the advertised job and present evidence of your ability to meet those requirements. Initially you can work independently of the rest of your group, but before your final submission..

What are the easiest microbial forms to kill or inhibit : Which of the microbial forms have the highest resistance to physical and chemical controls?

Find the expected freezing point of a water : Find the expected freezing point of a water solution that contains 268 g of aluminum nitrate, Al(NO3)3, in 8.50 kg of water.

Financial ratios of the most interest loan officer : Bob meets next month with a banker to secure a 60 day line of credit. He asks Mark which financial ratios will be of the most interest to the loan officer. How should Mark respond, any why?

What is the probability that sales for november will be less : What is the probability that his sales for November will be less than $100,000? Find the mean, variance, and standard deviation of the November sales.

Why does it make sense that the ask yield is reported : The asked yield is the investment yield corresponding to the dealer’s asked price. Why does it make sense that the ask yield is reported, rather than the bid yield? ?

Determine the amount of impairment loss : Estimated of total cash inflows (not discounted) from selling products made in California. $30,000,000. The fair value of the California plant is estimated to be $24,000,000. Determine the amount of impairment loss, if any.

Calculate the partial pressure (in atmospheres) of each gas : Assuming that the total pressure of the gases is 1.52 atm and that their mole ratio is 94 : 4.0 : 1.5 : 0.50, calculate the partial pressure (in atmospheres) of each gas.

Ratio scale compared to measurements on ordinal scale : What additional information is obtained from measurements on an interval scale compared to measurements on an ordinal scale?

User Account

All Pages