Consider the Given Discrete Probability Distribution $p ( x )$ $$\begin{array} { | c | c | c | c | c | c | } \hline x & 1 & 2 & 3 & 4 & 5 \\\hline p ( x ) & .1 & .2 & .2 & .3 & .2 \\\hline\end{array}$$

question 13

Essay

Consider the given discrete probability distribution. Construct a graph for $p ( x )$ $$\begin{array} { | c | c | c | c | c | c | } \hline x & 1 & 2 & 3 & 4 & 5 \\\hline p ( x ) & .1 & .2 & .2 & .3 & .2 \\\hline\end{array}$$

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Definitions:

Administrative Expenses

Costs related to the general operation of a company, including expenses such as salaries of non-sales personnel, and office supplies.

Planning Budget

A planning budget is projected financial plan that outlines an organization's expected revenues, expenses, and capital needs for a future period.

Net Operating Income

The profit derived from a company's everyday business operations after subtracting all operating expenses from gross income.

Flexible Budget

A budget that adjusts or flexes with changes in volumes or activity levels, allowing for better cost control and planning.