The Following Probability Distribution Represents the Number of Bedrooms in a Randomly

question 24

Multiple Choice

The following probability distribution represents the number of bedrooms in a randomly selected US household.To simplify matters, the category "five or more" is replaced by "5" (Source: US Census, American FactFinder) .Calculate the variance of the number of bedrooms per household.

• A)0.017
• B)1.070
• C)1.145
• D)2.917
• E)3.215

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Definitions:

Marginal Costs

The added expense resulting from making one more unit of a product or service.

Corn Yields

The amount of harvested corn produced per unit of land, often measured in bushels per acre.

Marginal Cost

The cost of producing one additional unit of a product.

Industry Price

The average or standard price of goods or services within a specific industry, influenced by factors like demand, supply, and competition.