Refer to given problem. Suppose the car dealership's operation costs are well approximated by the square root of the number of cars sold, multiplied by $300. What is the expected daily cost of the operation? Explain.
Problem
An automobile dealership records the number of cars sold each day. The data are used in calculating the following probability distribution of daily sales:
|
X
|
P(x)
|
|
0
|
0.1
|
|
1
|
0.1
|
|
2
|
0.2
|
|
3
|
0.2
|
|
4
|
0.3
|
|
5
|
0.1
|
a. Find the probability that the number of cars sold tomorrow will be between two and four (both inclusive).
b. Find the cumulative distribution function of the number of cars sold per day.
c. Show that P(x) is a probability distribution.