Mathematics, 08.04.2020 15:37, gdubak

Let X represent the number of homes a real estate agent sells during a given month. Based on previous sales records, she estimates that Upper P left parenthesis 0 right parenthesis equals 0.63, Upper P left parenthesis 1 right parenthesis equals 0.21, Upper P left parenthesis 2 right parenthesis equals 0.12, Upper P left parenthesis 3 right parenthesis equals 0.03, Upper P left parenthesis 4 right parenthesis equals 0.01, with negligible probability for higher values of x. a. Explain why it does not make sense to compute the mean of this probability distribution as left parenthesis 0 plus 1 plus 2 plus 3 plus 4 right parenthesis divided by 5 equals 2.0. b. Find the correct mean and interpret.

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Let X represent the number of homes a real estate agent sells during a given month. Based on previou...