An Automotive Center Keeps Tracks of Customer Complaints Received Each

question 123

Multiple Choice

An automotive center keeps tracks of customer complaints received each week. The probability distribution for complaints can be represented as the table shown below. The random variable xi represents the number of complaints, and p(xi) is the probability of receiving xi complaints.

$\begin{array}{|c|c|c|c|c|c|c|c|}\hline x_{i} & 0 & 1 & 2 & 3 & 4 & 5 & 6 \\\begin{array}{c}\end{array} & & & & & & & \\\hline & & & & & & & \\& & & & & & & \\\begin{array}{c}\end{array} p( x_i) & .10 & .15 & .18 & .20 & .20 & .10 & .07 \\\hline\end{array}$

What is the average number of complaints received per week?

• A) 2.12
• B) 3.32
• C) 4.12
• D) 2.83

Understand the impact of leverage on a company’s financial condition and how it is used to achieve higher returns on equity.

Understand the structure and components of a corporate income statement.

Identify and differentiate between operating and non-operating items, including unusual and discontinued operations.

Understand how changes in accounting principles and methods are reported.

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Definitions:

Bankruptcy Judge

A specialized judge who presides over bankruptcy cases.

Discharge

The release from legal obligation, such as the completion of a debt payment or the fulfillment of contractual duties.

Sole Proprietor

The owner of a sole proprietorship.

Installment Payments

Payments made regularly (monthly, quarterly, etc.) towards the settlement of a debt, allowing the debtor to pay off the amount owed over time.