A retailer of Christmas trees has estimated the number of trees that he will sell during the next season. The following table summarizes the demands for trees and their respective probabilities: Demand X, 4 Probability (X) 0,5 0.2 10 0.3 1.1. Is demand for trees a proper probability function? Why, or why not? 1.2. What is the probability that the demand for trees will be equal to 4? 1.3. What is the probability that the demand for trees will be equal to 10? 1.4. What is the probability that the demand for trees will be greater than 4? 1.5. What is the expected value of demand for trees? 1.6. What is the variance of the demand for trees?

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QUESTION 1
A retailer of Christmas trees has estimated the number of trees that he will sell during the
next season. The folowing table summarizes the demands for trees and their respective
probabilities:
Probability
(X)
Demand
4
0,5
5
0.2
10
0,3
1.1. Is demand for trees a proper probability function? Why, or why not?
1.2. What is the probability that the demand for trees will be equal to 4?
1.3. What is the probability that the demand for trees will be equal to 10?
1.4. What is the probability that the demand for trees will be greater than 4?
1.5. What is the expected value of demand for trees?
1.6. What is the variance of the demand for trees?
Transcribed Image Text:QUESTION 1 A retailer of Christmas trees has estimated the number of trees that he will sell during the next season. The folowing table summarizes the demands for trees and their respective probabilities: Probability (X) Demand 4 0,5 5 0.2 10 0,3 1.1. Is demand for trees a proper probability function? Why, or why not? 1.2. What is the probability that the demand for trees will be equal to 4? 1.3. What is the probability that the demand for trees will be equal to 10? 1.4. What is the probability that the demand for trees will be greater than 4? 1.5. What is the expected value of demand for trees? 1.6. What is the variance of the demand for trees?
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