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Observe that for a random variable Y that takes on values 0 and 1, the expected value of Y is defined as follows: E(Y)
Observe that for a random variable Y that takes on values 0 and 1, the expected value of Y is defined as follows: E(Y) = 0 Pr(Y=0) + 1 Pr(Y= 1) Now, suppose that X is a Bernoulli random variable with success probability Pr (X = 1) = p. Use the information above to answer the following questions. Show that E(X) = = p. Suppose that p = 0.56. Compute the mean of X. Compute the variance of X. E (x) = ( 0 1 p ) + ( 1 p)= p (Use the tool palette on the right to insert superscripts. Enter you answer in the same format as above.) E(X) = 0.56 (Round your response to two decimal places) Compute the skewness of X using the following formula: var(X) = 0.2464 (Round your response to three decimal places) E(X-E(X)) E(X) - 3[E(x)] [E(X)]+2[E(X)] Skewness of X = (Round your response to three decimal places)
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