Question

A sales analyst listed the probabilities of profits and losses in dollars for a certain company. Find the mean for the probability distribution.

Answer 1

The answer is 69.25

Step-by-step explanation:

Answer 2

Answer: The mean for the probability distribution will be 69.25.

Step-by-step explanation:

Since we given that

`At\ x_1= -500 ,P(x) = 0.076\\`

`At\ x_2= -250,P(x)= 0.191\\`

`At\ x_3=0, P(x)= 0.265\\`

`At\ x_4=250 , P(x)= 0.316\\`

`At\ x_5=500 , P(x)= 0.152\\`

As we know the formula for expectation of x i.e. known as mean for the probability distribution,

`E(x)=x\sum_(1)^(5) P(x)`

So, we apply this formula in our case,

`-500* 0.076+(-250)* 0.191+0* 0.265+250* 0.316+500* 0.512=69.25`

`\mu = 69.25`

Hence, the mean for the probability distribution will be 69.25.