00:01
This table shows the probability mass function for the random variable y which is the number of defective soccer balls in a randomly selected batch, and we are asked to find the expected value.
00:13
For a discrete random variable the expected value of the variable can be calculated as the summation over all possible values of a variable of that value times its respective probability.
00:30
Probability.
00:35
So for this distribution we would have 0 times 0 .3 plus 1 times 0 .3 plus 2 times 0 .2 plus 3 times 0 .2 and this comes out to 1 .3.
00:58
And then for the next question we have a bookstore that offers three types of membership, gold, silver and bronze.
01:04
Historical data shows that 70 % of gold members renew their membership each year.
01:09
So the probability of renewing, let's denote renewing r, given that you're a gold member, is 70 % over 0 .70.
01:20
60 % of silver memberships renew, so that's a probability 0 .60.
01:28
And 40 % of bronze members renew.
01:41
Furthermore, we are told that 35 % of the bookstore's members are gold, 45 % are silver, and 20 % are bronze...