Assignment:
The New York City Housing and Vacancy Surrey showed a total 459,324 rent-controlled housing units and 236,263 rent-stabilized units built in 1947 or later. For these rental units. the probability distributions for the number of persons living in the unit are given (U.S. Census Bureau website, January 12, 2004).
|
Number of
Persons
|
Rent-Controlled
|
Rent-Stabilized
|
|
1
|
.61
|
.41
|
|
2
|
.27
|
.30
|
|
3
|
.07
|
.14
|
|
4
|
.04
|
.11
|
|
5
|
.01
|
.03
|
|
6
|
.00
|
.01
|
a. What is the expected value of the number of persons living in each type of unit?
b. What is the variance of the number of persons living in each type of unit?
c. Make some comparisons between the number of persons living in rent controlled units and the number of persons living in rent-stabilized units.
Provide complete and step by step solution for the question and show calculations and use formulas.