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.

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Definitions:

Conserving Water

The practice of using water efficiently to reduce unnecessary water usage and protect water resources.

Tropical Deserts

Arid regions located in tropical zones, characterized by extreme heat, minimal rainfall, and sparse vegetation.

Temperate Deserts

Temperate deserts are arid regions with moderate temperatures compared to their more extreme hot or cold desert counterparts, characterized by sparse rainfall and unique ecosystem adaptations.

Precipitation

Precipitation is the process by which water in various forms falls from the atmosphere to the ground, including rain, snow, sleet, and hail.