Discuss the below:
Q: The New York City Housing and Vacancy Survey showed a total of 59,324 rent-controlled housing units and 236,263 rent-stabilized units built in 194 or later. For these rental units, the probability distributions for the number of persons living in the unit are given.
Number of Persons Rent-Controlled Rent-Stabilized
1 0.61 0.41
2 0.27 0.30
3 0.07 0.14
4 0.04 0.11
5 0.01 0.03
6 0.00 0.01
a. What is the expected value of the number of people living in rent-controlled units?
b. What is the expected value of the number of people living in rent-stabilized units?
c. What is the standard deviation of the number of people living in rent-controlled units?
d. What is the standard deviation of the number of people living in rent-stabilized units?