Exhibit 5-5

question 21

Multiple Choice

Exhibit 5-5.The number of homes sold by a realtor during a month has the following probability distribution: Refer to Exhibit 5-5.What is the expected number of homes sold by the realtor during a month?

• A)1
• B)1.2
• C)1.5

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Definitions:

Output

Output is the total amount of goods or services produced by a company, industry, or economy within a certain period.

Total Cost

The complete cost of production that combines all costs, both fixed and variable, incurred to produce goods or services.

Change

The act or process of becoming different, which can apply to a wide variety of contexts, including physical alterations, shifts in ideas, or modifications in systems.

Average Total Cost

The total cost of production divided by the number of goods produced, representing the average cost per unit of output.