SOLUTION: Consider the following record of sales for a product for the last 100 days.
<pre>
SALES UNITS NUMBER OF DAYS
0 5
1
Algebra ->
Probability-and-statistics
-> SOLUTION: Consider the following record of sales for a product for the last 100 days.
<pre>
SALES UNITS NUMBER OF DAYS
0 5
1
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Question 984051: Consider the following record of sales for a product for the last 100 days.
SALES UNITS NUMBER OF DAYS
0 5
1 25
2 35
3 25
4 10
100
1. What was the probability of selling 1 or 2 units on any one day?
2. What were the average daily sales units?
3. What was the probability of selling 2 units or more?
4. What was the probability of selling 3 units or less?
The probability of any given number being sold is the number of days that number sold divided by the total number of sales days, e.g. the probability of selling 1 is 25/100.
The probability of selling x or y units is the probability of selling x plus the probability of selling y.
To find the average, find the probability of each possible number of sales, multiply each of those probabilities times that number of sales, and then add up all five results, that is: 0 times .05 plus 1 times .25 plus ...
John
My calculator said it, I believe it, that settles it
