Question

1. Organizers of a concert are limiting ticket sales to a maximum of 4 tickets per...

1. Organizers of a concert are limiting ticket sales to a maximum of 4 tickets per customer. Past experience has shown that the probability distribution of the number of tickets purchased in these situations is:

 Number of Tickets Purchased Probability 1 0.1 2 0.3 3 0.2 4 0.4

What is the expected value of the number of tickets purchased? Include 1 decimal place in your answer.

2.

Kelsie works at a bicycle shop as a salesperson. The probability distribution of the number of bicycles Kelsie sells on a randomly selected day is shown below:

 Number of Bicycles Sold Probability 0 0.30 1 0.50 2 0.15 3 0.05

The mean for the number of bicycles sold is 0.95. What is the standard deviation? Round your answer to 2 decimal places.

1)

 x P(x) x * P(x) 1 0.1 0.1 2 0.3 0.6 3 0.2 0.6 4 0.4 1.6 Sum 1 2.9

Mean = = X * P(X) = 2.9

the expected value of the number of tickets purchased = 2.9

2)

 x P(x) x * P(x) x2 * P(x) 0 0.3 0 0 1 0.5 0.5 0.5 2 0.15 0.3 0.6 3 0.05 0.15 0.45 Sum 1 0.95 1.55

Mean = = X * P(X) = 0.95

Standard deviation =

=X 2 * P(X) - 2

=  1.55 - 0.952

= 0.80

Earn Coins

Coins can be redeemed for fabulous gifts.