6.6 Selling houses Let X represent the number of homes a real estate agent sells during a...
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6.6 Selling houses Let X represent the number of homes a real estate agent sells during a given month. Based on previous sales records, she estimates that P102 = 0.68, P112 = 0.19, P122 = 0.09, P132 = 0.03, P142 = 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 10 + 1 + 2 + 3 + 42 >5 = 2.0 and claim that, on average, she expects to sell 2 homes.
b. Find the correct mean and interpret.
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Related Book For
Statistics The Art And Science Of Learning From Data
ISBN: 9781292164878
4th Global Edition
Authors: Alan Agresti, Christine A. Franklin, Bernhard Klingenberg
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