Let X represent the number of homes a real estate agent sells during a given month. Based on previous sales records, she estima
tes that Upper P (0 )equals 0.60, Upper P (1 )equals 0.23, Upper P (2 )equals 0.11, Upper P (3 )equals 0.04, Upper P (4 )equals 0.02, with negligible probability for higher values of x. a. Explain why it does not make sense to compute the mean of this probability distribution as (0 plus 1 plus 2 plus 3 plus 4 )divided by 5 equals 2.0. b. Find the correct mean and interpret.
1 answer:
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Answer to your Question:
- The Minimum Value will be 0
and
- The Maximum Value will be 30
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