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On Any Given Day,a Salesman Can Earn $0 with a 20

question 33

Essay

On any given day,a salesman can earn $0 with a 20% probability,$100 with a 40% probability,or $300 with a 20% probability.Calculate the expected value and variance of his earnings,and interpret.


Definitions:

Armed Rebellion

Armed rebellion is a violent uprising against an established government or authority, typically with the goal of overthrowing the existing regime or achieving independence for a specific region.

Economic Inequality

Describes the unequal distribution of wealth, income, or resources among individuals, households, or populations within a society.

Birth Rates

The number of live births per thousand of population per year.

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