A used car dealership uses past data to estimate the probability distribution for the number of cars they sell in a day, X The probability distribution of X is given in Table 11 14 (a) What is P(X 4) (b) What is the probability that the dealership sells less than two cars during a day (c) What is t...

a As the probabilities must sum to 1 so PX 4 1 029 03 02 01 ...

A used car dealership uses past data to estimate the probability distribution for the number of cars

Question:

A used car dealership uses past data to estimate the probability for the number of cars they sell in a day, X. The probability of X is given inTable 11.14.

4 3 0.29 0.17 p(x) 0.3 0.2 4.

(a) What is P(X = 4)?
(b) What is the probability that the dealership sells less than two cars during a day?
(c) What is the expected number (mean) of cars sold in a day?
(d) What is the standard deviation of the number of cars sold in a day?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...

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