A market research team compiled the following discrete probability distribution.In this distribution x represents the number of automobiles owned by a family. The mean (average)value of x is ___.
A)1.0
B)1.5
C)2.0
D)2.5
E)3.0

Question

A market research team compiled the following discrete probability distribution.In this distribution x represents the number of automobiles owned by a family.  The mean (average)value of x is ___.
A)1.0 
B)1.5 
C)2.0 
D)2.5 
E)3.0

Quizplus · Accepted Answer

The mean or expected value of a discrete probability distribution can be found by multiplying each possible value by its respective probability and then adding up all the products. In this case, we have:

Mean (μ) = (0.2 × 0) + (0.35 × 1) + (0.1 × 2) + (0.2 × 3) + (0.15 × 4)
        = 0 + 0.35 + 0.2 + 0.6 + 0.6
        = 1.75

Therefore, the closest choice to the mean is C) 2.0.

A Market Research Team Compiled the Following Discrete Probability Distribution