Examine the following probability distribution: x 5 10 15 20 25 30 35 40 45 50 P(x)

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Examine the following probability distribution:

x 5 10 15 20 25 30 35 40 45 50 P(x) 0.01 0.05 0.14 0.20 0.30 0.15 0.05 0.04 0.01 0.05

a. Calculate the expected value and standard deviation for this random variable.

b. Denote the expected value as m. Calculate m  s and m  s.

c. Determine the proportion of the distribution that is contained within the interval m s.

d. Repeat part c for (1) m 2s and (2) m 3s.

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Business Statistics A Decision Making Approach

ISBN: 9780136121015

8th Edition

Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry, Kent D. Smith

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