Realtor sales, part 1. Daily sales records for a realtor's office show that the realtor will sell
Question:
a. Is this a valid probability mass function? Why or why not?
b. What is the expected number of homes the realtor will sell in a week?
c. What is the standard deviation in the number of homes the realtor will sell in a week?
d. What is the expected number of homes the realtor will sell in a 12 week quarter?
e. What is the standard deviation in the number of homes the realtor will sell in a 12 week quarter? (Assume the weeks are independent.)
f. Do you think that the assumption about the weeks being independent is a good assumption? Why or why not? Does independence affect your answer to part d? To part e?
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Related Book For
Introduction to Probability
ISBN: 978-0716771098
1st edition
Authors: Mark Daniel Ward, Ellen Gundlach
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