The table below shows the size distribution for American households in 1970 and 2010 Suppose you were

Question:

The table below shows the size for American households in 1970 and 2010

The table below shows the size distribution for American households

Suppose you were to choose one household at random from the 1970 population.
a. Show the probability distribution for the random variable €œnumber of people in the household.€ To simplify, let the maximum value for the random variable be 7. Show the bar chart for the distribution and compute the expected value of the random variable.
b. Repeat part a, but this time assume you are selecting one household from the 2010 population.

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...