Question: a. Construct a probability distribution for x = number of big-screen TVs sold. b. What is the expected number of big-screen TVs sold per month?

a. Construct a probability distribution for x = number of big-screen TVs sold.
b. What is the expected number of big-screen TVs sold per month? Interpret this value.
c. The price of a big-screen TV is on average is on average $3575 per TV. If the salesperson’s commission on a big screen TV is 15% of sales, what is his or her expected monthly commission on the big screen TVs?

Number of Big-Screen TVs Sold x	Number of Days
0	4
1	15
2	5
3	3
4	2
5	1
Total	30

Step by Step Solution

★★★★★

3.38 Rating (170 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a x Days PxSold 0 4 01333 1 15 05000 2 5 0166... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Business Statistics Questions!

A real estate agent is interested in the relationship between the number of lines in a newspaper advertisement for an apartment and the volume of inquiries from potential renters. Let volume of...

Census data are often used to obtain probability distributions for various random variables. Census data for families in a particular state with a combined income of $50,000 or more show that 20% of...

The state of Ohio has several statewide lottery options. One is the Pick 3 game in which you pick one of the 1000 three-digit numbers between 000 and 999. The lottery selects a three-digit number at...

Gmail YouTube Maps Living Environment. 5. [-/7 Points] DETAILS PODSTAT6 7.4.042. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose that for a particular computer salesperson, the probability...

7.34 Suppose that for a given computer salesperson, the probability distribution of x the number of systems sold in 1 month is given by the following table: x * 1 2 3 4 5 6 7 p(x) .05 .10 .12 .30 .30...

Assignment 4 Due Nov 20 4. An American roulette wheel contains 38 numbers: 18 are red, 18 are black, and 2 are green. When the roulette wheel is Spun, the ball is equally likely to land on any of the...

Help me answer all of the following activities and please do follow the page numberings thank you in advance Activity 3. Direction: Read and analyze the situation below. Answer the questions as...

Choose the best answer. 1. Which of the following is an example of a discrete random variable? A. weight of newborn babies B. body temperature of COVID-19 patients C. number of heads that will come...

ECON 1203 Tutorial Workshop Questions Semester 1 2016 ***This document will be periodically updated with questions to be discussed in succeeding tutorials, and re-posted to Moodle every fortnight.***...

IVC/Spring 2016/Econ 10/MGT 10/ Pehlivan/ Exam 3 Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1)...

The data in below table lists country code and the order to remittance (OTR) time for hardware / software installations for the last 76 installations (from first to last). OTR is the time it takes...

Product costs in the manufacturing company include: (A) Raw materials, work in process, and finished goods cost (B) Work in process, finished goods, raw materials (C) Finished goods, raw materials,...

Chepter $ Assignment coos Fintitem Regulied: Celoviple the eqtimples workery' oompensention insurance premium. Frepwe the joumal enery for the pwymet ws of lamuary 2 , 2 0 - . If sh momut bor does...

10. What are the characteristics of a monopolistically competitive firm?

The data show the number of years of experience the players on the Pittsburgh Steelers football team have at the beginning of the season. Draw and analyze a dot plot for the data. 3 12 6. 12 5 1 4 5...

Fifty off-campus students were asked how long it takes them to get to school. The times (in minutes) are shown. Construct a dotplot and analyze the data. 32 2=8a858%3 8%%424m4 20B5H8n%8

There are 43 Major League baseball players (as of 2015) that have hit 50 or more home runs in one season. Construct a stem and leaf plot and analyze the data. 532

Grady-White Boats, Inc. is considering a project that will require additional inventory of $1,135,000. In addition, pursuing this project will also increase accounts payable by $440,000 as suppliers...

You have assigned the following values to these three firms: Price Upcoming Dividend Growth Beta US Bancorp $ 54.65 $ 2.95 9.40 % 1.68 Praxair 67.90 1.71 11.50 2.43 Eastman Kodak 32.60 1.00 14.50...

A piece of newly purchased industrial equipment costs $974,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule is shown in Table 10.7. Calculate the annual...