Question

1. Families with an income range of $35,000 to $55,000 are likely to buy the latest Star Quest DVD. What is the expected value for the family income for this uniform probability distribution?

Answer 1

Answer:-

Let , family income(X) is a random variable which follows uniform distribution

X ~ uniform ( 35000, 55000 ) , where 35000 < x < 55000

Here a = 35000 and b = 55000 , then the expected value for the family income for this uniform probability distribution is (a + b) / 2

i.e , E(X) = ( a + b ) / 2

E(X)=( 35000 + 55000 ) / 2

E(X) = 45000

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