Interpret the Mean of a Discrete Random Variable as an Expected

question 79

Multiple Choice

Interpret the Mean of a Discrete Random Variable as an Expected Value
-A local bakery has determined a probability distribution for the number of cheesecakes that they sell in a given day. The distribution is as follows:
$\begin{array}{l|ccccc}\text { Number sold in a day } & 0 & 5 & 10 & 15 & 20 \\\hline \text { Prob (Number sold) } & 0.1 & 0.15 & 0.19 & 0.16 & 0.4\end{array}$

Find the number of cheesecakes that this local bakery expects to sell in a day.

• A) \(13.05\)
• B) \(13.15\)
• C) \(13.55\)
• D) 10

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Definitions:

Liabilities

Financial obligations owed by a business to others, such as loans, accounts payable, mortgages, deferred revenues, or bonds.

Common Shares

Equity securities that represent ownership interests in a corporation, entitling holders to dividends and voting rights depending on the number of shares held.

Retained Earnings

The portion of a business's profits not distributed to shareholders as dividends but retained by the company for reinvestment or to pay debt.

Dividends Declared

The announcement by a company’s board of directors of the payment of a specified amount per share to its shareholders, to be paid on a certain date.