Question

QUESTION 1

Studd Enterprises sells big-screen televisions. A concern of management is the number of televisions sold each day. A recent study revealed the number of days that a given number of televisions were sold.

                        # of TV units sold      # of days

                                       0                             2

1.                         4

2.                       10

3.                       12

4.                         8

5.                         4

Answer the questions below. For each part, show your calculations and/or explain briefly how you arrived at your answer, as appropriate or needed.

Required:

1. Convert the frequency distribution above into a probability distribution (or relative frequency distribution) showing the proportion of days (rather than the number of days) that the number of televisions sold was 0, 1, 2, 3, 4, and 5 respectively. and Compute the mean of this general discrete probability distribution. ( 6 marks)
2. Compute the standard deviation of this general discrete probability distribution. ( 5 marks)
3. What is the probability that exactly 4 televisions will be sold on any given day? and What is the probability that 2 or more televisions will be sold on any given day? ( 2 mark)
4. What is the probability that less than 2 televisions will be sold on any given day? and What is the probability that between 1 and 4 televisions inclusive will be sold on any given day? (2 mark)

Answer 1