Daily sales record for a computer store show that it will sell 1, 2, or 3...
Daily sales record for a computer store show that it will sell 1, 2, or 3 computers with the probability as listed:
| Numbers of Sales | 1 | 2 | 3 |
| Probability | 0.3 | .06 | .01 |
A) What is the expected value and variance of daily sales?
B) In the table below, compute the probability of X, the number of sales in a two-day period, assuming that sales are independent from day to day.
| Number of Sales (X) | 2 | 3 | 4 | 5 | 6 |
| Probability |
Homework Answers
A)
Expected value = 1*0.3 + 2*0.06 + 3*0.01 = 0.4500
B)
for X = 2, probability = 0.3*0.3 = 0.09
for X = 3, probability = 2*(0.3*0.06) = 0.0360
for X = 4, probability = 2*0.3*0.01 + 0.06*0.06 = 0.0096
for X = 5, proability = 2*0.06*0.01 = 0.0012
for X = 6, probability = 0.01*0.01 = 0.0001
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