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Define the discrete random variable X by X()=234if=1,if=2,if=3, where the sample space ={1,2,3},P(1)=P(2)=P(3)=31. Find a new probability measure P~ such that the mean becomes EP~[X]=3.5
Define the discrete random variable X by X()=234if=1,if=2,if=3, where the sample space ={1,2,3},P(1)=P(2)=P(3)=31. Find a new probability measure P~ such that the mean becomes EP~[X]=3.5 while the variance remains unchanged. Is P~ unique
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