A market research team compiled the following discrete probability distribution.In this distribution x represents the number of automobiles owned by a family. The mean (average)value of x is ___.
A)1.0
B)1.5
C)2.0
D)2.5
E)3.0

Question

A market research team compiled the following discrete probability distribution.In this distribution x represents the number of automobiles owned by a family.  The mean (average)value of x is ___.
A)1.0 
B)1.5 
C)2.0 
D)2.5 
E)3.0

Quizplus · Accepted Answer

To find the mean value of x, we need to multiply each value of x by its corresponding probability and then add up these products. Sum = (0*0.2) + (1*0.3) + (2*0.4) + (3*0.1) = 0 + 0.3 + 0.8 + 0.3 = 1.4. Therefore, the mean value of x is 1.4, rounded to the nearest whole number it is 2 (C).

A Market Research Team Compiled the Following Discrete Probability Distribution