7. Discrete Random Variables
Standard level
7.04 Applications of discrete random variables
Interactive practice questions
An investment scheme advertises the following percentage returns after $2$2 years based on historical probabilities.
| Percentage return ($x$x) | $10%$10% | $15%$15% | $25%$25% |
|---|---|---|---|
| $P\left(X=x\right)$P(X=x) | $0.7$0.7 | $0.15$0.15 | $0.15$0.15 |
a
Calculated the expected percentage return on investment.
Give your answer as a percentage.
b
If someone invested $\$50000$$50000, how much could they expect their investment to be worth after $2$2 years?
Easy
2min
A salesperson is starting work in a new region and analyses the probability of how many sales he is likely to make in the next month.
Easy
4min
At a car park in the city, all day parking is charged on the following basis below.
Medium
5min
Two dice are rolled and the absolute value of the differences between the numbers appearing uppermost are recorded.
Medium
7min
Sign up to access Practice Questions
Get full access to our content with a Mathspace account