The Following Probability Distribution Represents the Number of Vehicles Available

question 45

Multiple Choice

The following probability distribution represents the number of vehicles available for use by a randomly selected US household.To simplify matters, the category "three or more" is replaced by "3" (Source: US Census, American FactFinder) .Calculate the expected value of the number of vehicles available per household.

• A)0.25
• B)0.42
• C)1.50
• D)1.66
• E)2.50

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Definitions:

PRIZM Lifestyle Segmentation

A marketing tool used to categorize consumers into different groups based on their socio-economic status, lifestyle, and consumer behavior.

Demographic Segmentation

The division of a market into subsets based on variables such as age, gender, income, education, and family size for marketing purposes.

Geographic Component

Refers to the elements related to the physical location and spatial characteristics crucial for analysis in geography and related disciplines.

Household Size

The number of individuals living together in a single home environment, often used in market segmentation and demographic studies.