The daily earnings X of an employee who works on a commission basis are given by the following probability distribution. Find the employee's expected earnings.
$ _______
x($) 0 25 50 75 100 125 150
P(X = x) 0.16 0.13 0.07 0.14 0.28 0.17 0.05
Homework Answers
Solution
| x | P(x) | x * P(x) | x2 * P(x) |
| 0 | 0.07 | 0 | 0 |
| 25 | 0.13 | 3.25 | 81.25 |
| 50 | 0.16 | 8 | 400 |
| 75 | 0.14 | 10.5 | 787.5 |
| 100 | 0.28 | 28 | 2800 |
| 125 | 0.17 | 21.25 | 2656.25 |
| 150 | 0.15 | 22.5 | 3375 |
 |
1.1 | 93.5 | 10100 |
Mean = 
=
X * P(X) = 93.5
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