Question
Use the following data to answer the questions. The random variable X=1, 2, 3, 4. P(X=1)=0.2 P(X=2)=0.4 P(X=3)=0.3 P(X=4)=0.1 1. What is the expected value
Use the following data to answer the questions.
The random variable X=1, 2, 3, 4.
P(X=1)=0.2
P(X=2)=0.4
P(X=3)=0.3
P(X=4)=0.1
1. What is the expected value of the random variable X?
2. What is the variance of the random variable X?
3. What is the standard deviation of the random variable X?
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Microeconomics A Contemporary Introduction
Authors: William A. McEachern
9th edition
978-0538453714, 538453710, 978-1111415921
