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    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 Preview

    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 ...

    Solution Summary

    This solution shows how to find the mean of a discrete probability distribution.

    $2.19

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