Find the Mean of the Given Probability Distribution A)017
B)3

question 79

Multiple Choice

Find the mean of the given probability distribution.
-The accompanying table shows the probability distribution for x, the number that shows up when a loaded die is rolled. $$\begin{array} { c | c } \mathrm { x } & \mathrm { P } ( \mathrm { x } ) \\\hline 1 & 0.13 \\2 & 0.12 \\3 & 0.16 \\4 & 0.13 \\5 & 0.15 \\6 & 0.31\end{array}$$

• A)0.17
• B)3.50
• C)3.85
• D)3.98

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Definitions:

Days' Sales In Inventory

A financial metric that measures the average number of days it takes for a company to turn its inventory into sales.

Average Inventory

Average inventory is a calculation that estimates the value or number of goods a company has in stock over a specific period, often used to assess inventory turnover.

Inventory Management

A process in businesses that oversees the flow of goods from manufacturers to warehouses and from these facilities to point of sale.

Specific Identification Method

An inventory costing method that assigns costs to individual items or batches of products, accurately tracking inventory costs.