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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:

Working Mothers

Women who maintain a job or career while simultaneously fulfilling the responsibilities of motherhood.

Child Care

The supervision and care provided to children, typically ranging in ages from infancy to adolescence, by individuals other than their legal guardians.

Working Women

Refers to women who engage in paid employment outside their homes.

Labor Force

The total number of people employed or available for employment in an economy.

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