Explanation Given: The number of U.S. households within each of four income group in which someone owns a smart phone are given in table below, Income Quintile Lowest 20 % Second 20 % Third 20 % Fourth 20 % Highest 20 % Expenditures ($) 1038 1569 2127 3206 5151 Let, the random variable X denotes the values 1, 2, 3, 4 and 5, corresponding to the income within the set of all household. Approach: The probability of the event can be calculated by the formula shown below, P ( E ) = n ( E ) n ( S ) Here, P ( E ) is the probability of the event E , n ( E ) is the number of favorable outcomes for E and n ( S ) is the total number of outcomes. Calculation: The total number of outcomes from the given data as follows, n ( S ) = 1038 + 1569 + 2127 + 3206 + 5151 = 13 , 091 Substitute 1038 for n ( E ) and 13 , 091 for n ( S ) to find the probability associated with the income group that has 1 value X ( X = 1 ) , To determine b) To find: The percentage when total food expenditure is incurred by the top 40 % and when incurred by the Lowest 40 % .

Finite Mathematics for the Managerial, Life, and Social Sciences-Custom Edition

11th Edition

ISBN: 9781305283831

Author: Tan

Publisher: Cengage Learning

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Chapter 8.1, Problem 32E

To determine

a)

To find:

The probability distribution associated with the given data.

To determine

b)

To find:

The percentage when total food expenditure is incurred by the top 40% and when incurred by the Lowest 40%.

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Chapter 8.1, Problem 31E

Chapter 8.1, Problem 33E

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Chapter 8 Solutions

Finite Mathematics for the Managerial, Life, and Social Sciences-Custom Edition

Ch. 8.1 - What is a random variable? Give an example.Ch. 8.1 - Prob. 2CQ Ch. 8.1 - Prob. 3CQ Ch. 8.1 - Three balls are selected at random without...Ch. 8.1 - 2.A coin is tossed four times. Let the random...Ch. 8.1 - A die is rolled repeatedly until a 6 falls...Ch. 8.1 - Cards are selected one at a time without...Ch. 8.1 - Prob. 5E Ch. 8.1 - Prob. 6E Ch. 8.1 - Prob. 7E

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a) To find: The probability distribution associated with the given data.

Solution Summary: The author explains how the probability distribution associated with the given data is shown in table (1).