The amount of gas a local gas station sells is random. The following describes t

Q: The amount of gas a local gas station sells is random. The following describes t

Consider: Thus, E(x) = Expected value = Sum(xP(x)) = 1650 [ANSWER] x P(x) x P(x) 1200 0.18 216 1400 0.27 378 1800 0.33 594 2100 0.22 462

ID: 3159819 • Letter: T

Question

The amount of gas a local gas station sells is random. The following describes the distribution of gasoline sales in a given day. There is a probability of 0.18 that the station will sell 1200 gallons of gas; there is a probability of 0.27 that the station will sell 1400 gallons of gas; there is a probability of 0.33 that the station will sell 1800 gallons of gas; otherwise, the station sells 2100 gallons of gas. What is the expected number of gallons the station sells in a day? (please express your answer using 2 decimal places)

Explanation / Answer

Consider:

Thus,

E(x) = Expected value = Sum(xP(x)) =    1650 [ANSWER]

x P(x) x P(x) 1200 0.18 216 1400 0.27 378 1800 0.33 594 2100 0.22 462

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The amount of gas a local gas station sells is random. The following describes t

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