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Sagot :
AE(X) = $23,333.33 could John expect to collect in yearly leases for the whole building in a given year.
What is probability ?
The area of mathematics known as probability deals with numerical representations of the likelihood that an event will occur or that a proposition is true. An event's probability is a number between 0 and 1, where, roughly speaking, 0 denotes the event's impossibility and 1 denotes certainty.
The given table is:
Number of Lease Offices : 0 1 2 3 4 5
Probability : 5/18 1/4 1/9 1/18 2/9 1/12
The expected probability is
Expected probability [tex]$=\sum_{i=0}^5 x_i p\left(x_i\right)$[/tex]
Expected probability [tex]$=0 p(0)+1 P(1)+2 P(2)+3 P(3)+4 P(4)+5 P(5)$[/tex]
Expected probability [tex]$=0 \cdot\left(\frac{5}{18}\right)+1 \cdot\left(\frac{1}{4}\right)+2 \cdot\left(\frac{1}{9}\right)+3 \cdot\left(\frac{1}{18}\right)+4 \cdot\left(\frac{2}{9}\right)+5 \cdot\left(\frac{1}{12}\right)=\frac{35}{18}$[/tex]
It is given that the yearly lease [tex]$=\$ 12,000$[/tex].
The yearly leases for the whole building in a given year is
Yearly leases [tex]$=\frac{35}{18} \times 12000=23333.3333333 \approx 23333.33$[/tex]
To learn more about probability visit:https://brainly.com/question/11234923
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