Marketing estimates that a new instrument for the analysis of soil samples will be very successful, moderately successful, or unsuccessful, with probabilities 0.3, 0.3, and 0.4, respectively. The yearly revenues associated with a very successful, moderately, or unsuccessful product are $10 million, $5 million, and $1 million, respectively. Let the random variable X denote the yearly revenue of the product. Determine the probability mass function of X. Round your answers to one decimal place (e.g. 98.7).

probability mass function (PMF) gives us probabilities of possibilities of a random variable. It is usually shown in a tabular format with Random Variable (x) in one column and each associated probability [P(x)] in its respective column.

Here, our random variable is the yearly revenues of being "very successful", "moderately successful", and "unsuccessful".

So we can write [in probability notation]:

P(x=10) = 0.3

P(x=5) = 0.3

P(x=1) = 0.4

This, in tabular format would be the probability mass function (PMF).

x 1 5 10

p(x) 0.4 0.3 0.3

maheshpatelvVT maheshpatelvVT · Answer 2 · 2022-03-19T07:44:37+01:00

By definition of probability mass function we got that tabular format of probability mass function is

x 1 5 10

p(x) 0.4 0.3 0.3

What is probability ?

Probability is chances of occurring of an event.

We know that probability mass function tell about probabilities of a random variable. It is usually shown in a tabular format with Random Variable (x) in one column and each associated probability [P(x)] in its respective column.

x 1 5 10

p(x) 0.4 0.3 0.3

Here 1 means unsuccessful , 5 means moderately successful, 10 means very successful.

By definition of probability mass function we got that tabular format of probability mass function is

x 1 5 10

p(x) 0.4 0.3 0.3

To learn more about probability visit : brainly.com/question/24756209