Question
Using R programming language, what is the following. For this problem refer to Sections 5.2 of Business Statistics. A discrete random variable has outcomes: 0,
Using R programming language, what is the following.
For this problem refer to Sections 5.2 of Business Statistics. A discrete
random variable has outcomes: 0, 1, 2, 3, 4, 5, 6.The corresponding probabilities in sequence with the outcomes are: 0.215, 0.230, 0.240, 0.182, 0.130, 0.003, 0.001.In other words, the probability of obtaining "0" is 0.215.
(i) Calculate the expected value and variance for this distribution using the general formula for mean and variance of a discrete distribution (You will need to use integer values from 0 to 6 as outcomes along with the corresponding probabilities). Round your answer to 2 decimal places.
(ii) Use the cumsum() function and plot the cumulative probabilities versus the corresponding outcomes.Determine the value of the median for this distribution and show on this plot.
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