The Following Table Presents the Probability Distribution of the Number $\mu _ { x }$

question 44

Multiple Choice

The following table presents the probability distribution of the number of vacations X taken last year for a randomly chosen family. Compute the mean $\mu _ { x }$

$\begin{array} { c | c c c c c } x & 0 & 1 & 2 & 3 & 4 \\\hline P ( x ) & 0.06 & 0.66 & 0.16 & 0.09 & 0.03\end{array}$

• A) 1.37
• B) 0.71
• C) 1.43
• D) 0.84

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Definitions:

Operating Expense

Expenses incurred during the normal operations of a business, such as salaries, rent, and utilities, excluding cost of goods sold.

Outgoing Merchandise

Outgoing merchandise refers to inventory that has been sold and is in the process of being shipped to the customer.

Multiple-Step

The multiple-step income statement is a detailed financial report that separates operating revenue and expenses from non-operating ones to highlight core business activities.

Single-Step

A method of preparing the income statement where all revenues are summarized together and all expenses are summarized together, with a single step to determine net income.