Suppose your drama club's budget doubles every year. This year the budget is $500. How much was the club's budget 2 yr ago? What
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Answer:
<em>The expected number of tickets is 1.273</em>
Step-by-step explanation:
<u>Expected Value of a Discrete Probability Distribution</u>
Given a discrete distribution with values
x={x1,x2,x3,...,xn}
And respective probabilities
p={p1,p2,p3,...pn}
The expected value EX of the entire distribution is
The recent study of American males provides an approximate distribution of probabilities based on the number of tickets they had past year, according to the following data:
237 had 1 ticket
112 had 2 tickets
17 had 3 tickets
5 had 4 tickets
1 had 5 tickets
The total number of tickets is 237+112+17+5+1=372
Taking the number of tickets as the independent variable, then
x={1,2,3,4,5}
Each probability can be found as the relative frequency of the number of tickets as follows:
Therefore
p={0.637,0.301,0.046,0.013,0.003}
Compute EX
The expected number of tickets is 1.273