EBook Problems Distrib MeanVar
From Socr
EBook Problems Set - Expectation (Mean) and Variance
Problem 1
Ming’s Seafood Shop stocks live lobsters. Ming pays $6.00 for each lobster and sells each one for $12.00. The demand X for these lobsters in a given day has the following probability mass function.
| X | 0 | 1 | 2 | 3 | 4 | 5 |
| P(x) | 0.05 | 0.15 | 0.30 | 0.20 | 0.20 | 0.1 |
What is the Expected Demand?
- Choose one answer.
- (a) 13.5
- (b) 3.1
- (c) 2.65
- (d) 5.2
Answer
Problem 2
If sampling distributions of sample means are examined for samples of size 1, 5, 10, 16 and 50, you will notice that as sample size increases, the shape of the sampling distribution appears more like that of the:
- Choose one answer.
- (a) normal distribution
- (b) uniform distribution
- (c) population distribution
- (d) binomial distribution
Answer
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