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Chapter 6: Q.28 (page 356)

What’s the expected number of cars in a randomly selected American household?

(a) Between 0and 5

(b) 1.00

(c) 1.75

(d) 1.84

(e) 2.00

Short Answer

Expert verified

The expected number of cars in a randomly selected American household .The correct option is (C) 1.75.

Step by step solution

01

Given Information

The probability model if we ignore the few households that own more than

5cars.

02

Explanation

The expected value is calculated by multiplying each possibility by its probability:

μ=∑xP(x)=0×0.09+1×0.36+2×0.35+3×0.13+4×0.05+5×0.02=1.75

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Most popular questions from this chapter

53. The Tri - State Pick 3Refer to Exercise 42. Suppose you buy a $1 ticket on each of two different days.
(a) Find the mean and standard deviation of the total payoff. Show your work.
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