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Let X represent the number of homes a real estate agent sells during a given month. Based on previous sales records, she estimates that P(0)
Let X represent the number of homes a real estate agent sells during a given month. Based on previous sales records, she estimates that P(0) = 0.60, P(1) = 0.24, P(2) = 0.11, P(3) = 0.04, P(4) = 0.01, with negligible probability for higher values of x. a. Explain why it does not make sense to compute the mean of this probability distribution as (0 + 1 + 2+3 +4)/5 =2.0. b. Find the correct mean and interpret. a. Choose the reason why the mean is not the simple average of the possible values. O A. There are not enough possible values of x to compute the mean. O B. The mean should be computed by averaging the probabilities, not the possible values. O C. The probabilities of each possible value are not all the same. O D. The possible value of 0 skews the mean when computed in this fashion
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