Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose that X, the number of times a customer goes to a grocery store in a week, is a random variable with probability distribution shown

Suppose that X, the number of times a customer goes to a grocery store in a week, is a random variable with probability distribution shown in the accompanying table. (Assuming that no customer goes to the store more than 3 times a week).

x 0 1 2 3

p(X) 0.2 0.4 0.3 0.1

a) Calculate E(X) and explain what the number means.

b) True or false: Ten customers are selected at random. The total number of store visits of the 10customers will be ten times of the expected value we calculated in part (a) above.

c) Suppose the store has a promotion where a customer is given a $2 credit for each visit; and anadditional $3 credit for his/her 3rdvisit in a week (so he/she gets a total of $5 credit on his/her 3rdvisit of the week). Find the probability distribution of Y = Amount of credit the store gives to acustomer in a week.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Path To College Mathematics (Subscription)

Authors: Elayn Martin Gay

1st Edition

0134654560, 9780134654560

More Books

Students also viewed these Mathematics questions

Question

Examine alternative approaches to behavior therapy.

Answered: 1 week ago

Question

An improvement in the exchange of information in negotiations.

Answered: 1 week ago

Question

1. Effort is important.

Answered: 1 week ago