Find the Mean of the Given Probability Distribution

question 44

Multiple Choice

Find the mean of the given probability distribution.
-A police department reports that the probabilities that 0, 1, 2, and 3 burglaries will be reported in a given day are 0.50, 0.38, 0.11, and 0.01, respectively.

• A)0.63
• B)0.25
• C)1.50
• D)1.13

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Definitions:

Service-sponsored Retail System

A retail network established by a service provider to sell or distribute its services directly to consumers.

Administered Cooperative System

A system where a central agency coordinates the activities of a group of cooperative entities, ensuring efficiency and uniformity in operations.

Franchising

A business practice in which a company allows another operator to trade under its brand in return for a fee or license.

Parent Company

A corporation that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors.