The marketing department of a TV manufacturer has done research on the number of TVs owned by families in a large town. The probability model for the number of tvs owned by a randomly chosen family is given below. In the long run, what is the expected number of TVs per family? Round your answer to the nearest tenth. Number of TVs01234Probability0.060.240.430.190.08

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Asked Apr 9, 2019

The marketing department of a TV manufacturer has done research on the number of TVs owned by families in a large town. The probability model for the number of tvs owned by a randomly chosen family is given below. In the long run, what is the expected number of TVs per family? Round your answer to the nearest tenth. 

Number of TVs 0 1 2 3 4
Probability 0.06 0.24 0.43 0.19 0.08
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Expert Answer

Step 1

Expected value:

The expected value of a discrete random variable X is defined as the sum of the product of the values of the random variable and the corresponding probability. That is,

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Step 2

Let the random variable X denotes the number of TV owned by families in a large town. Here, the probability model for the number of T...

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