Mean of a Discrete Probability Distribution
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A random sampling of financial analysts was asked to provide forecasts of earnings per share of a corporation's stock for the next year. The results are summarized as follows:
Forecast ($ per share) # Analysts Mi FiMi
$8 < $10 2 Analysts
$10 < $12 3 Analysts
$12 < $14 9 Analysts
$14 < $16 16 Analysts
$16 < $18 4 Analysts
Find the mean earnings per share for this stock, while also filling in the chart for Mi and FiMi.
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Solution Summary
This solution shows how to find the mean of a discrete probability distribution.
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Using forecast earnings per share, find the mean earnings per share
A random sampling of financial analysts was asked to provide forecasts of earnings per share of a corporation's stock for the next year. The results are summarized as follows:
Forecast ($ per share) # Analysts Mi FiMi
$8 < $10 ...
Purchase this Solution
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