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Home Q & A Board Science-Related Homework Help Mathematics
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mathinator mathinator
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Posts: 60
Rep: 2 0
6 years ago
The management of a big company has projected the sales of its products (in millions of dollars) for the upcoming year, with the associated probabilities  shown in the following table:

Sales                         20             22                24                 26                 28                 30
Probability              0.05          0.10             0.35              0.30             0.15              0.05



(a) What does management expect the sales to be next year?
(b) Compute the variance of random variables from the table above?
(c) Compute the standard deviation?
(d) Compute the mode?
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#1
6 years ago
a. E (Sales) = (20 x 0.05)+ (22 x 0.10) + (24 x 0.35) + (26 x 0.30) + (28 x 0.15) + (30 x 0.05) = 25.1

b. The variance for this distribution, with mean = 25.1, may be calculated as follows:

=((20-25.1)^2) *0.05+((22-25.1)^2)*0.1+((24-25.1)^2)*0.35+((26-25.1)^2)*0.3 + ((28-25.1)^2)*0.15 + ((30-25.1))^2*0.05 = 5.39

d. 24
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