Realtor sales, part 1. Daily sales records for a realtor's office show that the realtor will sell

Question:

Realtor sales, part 1. Daily sales records for a realtor's office show that the realtor will sell 0, 1, or 2 homes in a week with the probabilities listed below:
Realtor sales, part 1. Daily sales records for a realtor's

a. Is this a valid probability mass function? Why or why not?
b. What is the expected number of homes the realtor will sell in a week?
c. What is the standard deviation in the number of homes the realtor will sell in a week?
d. What is the expected number of homes the realtor will sell in a 12 week quarter?
e. What is the standard deviation in the number of homes the realtor will sell in a 12 week quarter? (Assume the weeks are independent.)
f. Do you think that the assumption about the weeks being independent is a good assumption? Why or why not? Does independence affect your answer to part d? To part e?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Introduction to Probability

ISBN: 978-0716771098

1st edition

Authors: Mark Daniel Ward, Ellen Gundlach

Question Posted: