ABC Company is selling the umbrella which sells direct to the customers.
It has established that the historical data as below:
Umbrella's demand per month Frequency
Try to find:
What is the expected umbrella's demand per month?© BrainMass Inc. brainmass.com June 4, 2020, 12:53 am ad1c9bdddf
"In probability theory, the expected value (or expectation, or mathematical expectation, or mean, or the first moment) of a random variable is the weighted average of ...
This solution helps with a question about expected value of umbrellas using historical data.