Shopping Outlet a Shopping Outlet Estimates the Probability Distribution of the of the Number

question 102

Essay

Shopping Outlet
A shopping outlet estimates the probability distribution of the number of stores shoppers actually enter as shown in the table below. ​ ​
-{Shopping Outlet Narrative} Use the laws of expected value to calculate the mean of Y from the probability distribution of X.

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Definitions:

Function

A relation between a set of inputs and allowable outputs, where each input is related to exactly one output.

Compounded Interest

Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.

Compounded Continuously

Pertains to the situation where interest is added to the principal balance of an investment, loan, etc., at an infinite number of times within a specified time period.

Balance

The equality between the sum of the debits and credits in an account, or the stability between opposing forces.