Find the expected number of returns per day


Problem:

Business During the month of July, a home improvement store sold a great many air-conditioning units, but some were returned. The following table shows the probability distribution for the daily number of returns of air conditioning units sold in July: x 0 1 2 3 4 5 P(x) .55 .31 .08 .04 .01 .01.

Required:

Question: Find the expected number of returns per day.

Note: Provide support for rationale.

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Accounting Basics: Find the expected number of returns per day
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