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Suppose there is a bag of 100 envelopes. X envelopes hav a $1 bill inside and 100 X envelopes have nothing inside. Suppose I randomly
Suppose there is a bag of 100 envelopes. X envelopes hav a $1 bill inside and 100 X envelopes have nothing inside. Suppose I randomly pull an envelope out of the bag. Let the random variable Y be the amount of money in the envelope you pull out. Write out an expression for the variance of Y using the variable X (for example, if the variance of Y was equal to whatever X is equal to divided by 25, then V ar(Y ) = X/25 would be your answer)
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