Question

On average, how long would you expect a new hire to stay with the company?

Short answer

The new worker should anticipate to stay with the organization for at least$2.43$ year.

Step-by-step solution

Given Information

A business needs to know how long new hires stay with the organization. They've developed the following probability distribution throughout the years.

Concept Used:

Let's define $X$ the number of years a new recruit will stay with the company $P\left(X\right)$ and the likelihood that a new hire will stay with the company$X$ years.

Using the expectation of discrete distribution formula, we can determine the average value as:

$E\left(X\right)=\sum X\times P\left(X\right)$

Calculation

Using the expectation of discrete distribution formula, we can determine the average value as:

Conclusion:

As a result, the new worker should anticipate to stay with the organization for at least$2.43$ year.