Kelsie works at a bicycle shop as a salesperson. She records the number of bicycles she sells on a daily basis. Here is the probability distribution of $B=$ the number of bicycles Kelsie sells on a randomly selected day, and $T=$ the time she spends filling out daily sales reports.
\begin{tabular}{lcccc}
\hline$B=\#$ of bicycles sold & 0 & 1 & 2 & 3 \
$T=$ time (minutes) & 0 & 10 & 20 & 30 \
Probability & 0.30 & 0.50 & 0.15 & 0.05
\end{tabular}

Find the expected value of the amount of time Kelsie spends filling out daily sales reports.
$$
E(T)=
$$
$\square$ minutes

Question

Kelsie works at a bicycle shop as a salesperson. She records the number of bicycles she sells on a daily basis. Here is the probability distribution of $B=$ the number of bicycles Kelsie sells on a randomly selected day, and $T=$ the time she spends filling out daily sales reports.
\begin{tabular}{lcccc}
\hline$B=\#$ of bicycles sold & 0 & 1 & 2 & 3 \
$T=$ time (minutes) & 0 & 10 & 20 & 30 \
Probability & 0.30 & 0.50 & 0.15 & 0.05
\end{tabular}

Find the expected value of the amount of time Kelsie spends filling out daily sales reports.
$$
E(T)=
$$
$\square$ minutes

Accepted Answer

∻Solution by Steps∻ ‖ step 1 ⋮ Calculate the expected value of the time Kelsie spends filling out daily sales reports using the probabilities and corresponding times. ‖ ‖ step 2 ⋮ Multiply each time by its corresponding probability: $0 imes 0.30$, $10 imes 0.50$, $20 imes 0.15$, and $30 imes 0.05$. ‖ ‖ step 3 ⋮ Add the products to find the expected value: $0 imes 0.30 + 10 imes 0.50 + 20 imes 0.15 + 30 imes 0.05$. ‖ ‖ step 4 ⋮ Perform the calculations: $0 + 5 + 3 + 1.5$. ‖ ‖ step 5 ⋮ Sum the results to get the final expected value: $5 + 3 + 1.5 = 9.5$ minutes. ‖ ∻[1] Answer∻ ⚹ 9.5 minutes ⚹ ∻Key Concept∻ ⚹Expected Value of a Random Variable⚹ ∻Explanation∻ ⚹The expected value is calculated by summing the products of each outcome's value and its probability. It represents the average outcome if the experiment were repeated many times.◊What is the formula to calculate the expected value (E(T)) of the amount of time Kelsie spends filling out daily sales reports?⍭ Generate me a similar question◊⚹

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