The probabilities are 0.22, 0.36, 0.28, and 0.14 that an investor will be able to sell a
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Question:
The probabilities are 0.22, 0.36, 0.28, and 0.14 that an investor will be able to sell a piece of property at a profit of $2,500, at a profit of $1,500, at a profit of $500, or at a loss of $500, respectively.
A) Let X the profit for each sell. Construct a table that has the level of X and the corresponding probability, i.e., the probability distribution.
B) Construct a table for F(X).
C) What is the investor's expected profit?
D) What is the probability that the investor's profit is greater than $500?
Related Book For
The Legal Ethical and Regulatory Environment of Business in a Diverse Society
ISBN: 978-0073524924
1st edition
Authors: Dawn Bennett-Alexander, Linda Harrison
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