What I Have Learned Complete the following statements by writing the correct word or words. 1. The mean of a discrete random variable is interpreted as the value of a random variable over repeatedi trials of an experiment. 2. The variance and standard deviation of a discrete randorn variable measured or described the of the assumed values of the random variable to the meant. 3. A small variance or standard deviation means that the assumed values or data points tend to be to the mean. 4. A higher variance or standard deviation means that the assumed values or data points are from the mean. Php. 10,000 D. Php. 16.000 1. Direction: In 20 minutes read and analyze the situation below then prepare the needed statement The following data was taken from ledger account balances and supplementary data for ABM Company. Merchandise inventory beginning Php. 30,000.00 Merchandise inventory, ending 1.000.00 Purchases 315.000.00 Purchase discounts 6.000,00 Purchase Return and Allowances 3,000.00 Sales 400.000.00 Freight in 1.800.00 Required: Prepare statement of cost of goods sold and gross profit for the year ended December 31, 2020. In proper format, show the computation, Write your answer on the separate sheet of paper (15-20 minutes to finish)What I Know Before studying this module, take this test to determine what you already know about the topic covered. Choose the letter of the best answer. Write the chosen letter on a separate sheet of paper. 1. What do you call a random variable with possible values that form a finite or countable set? A. continuous C. finite B. discrete D. infinite 2. What term is used to describe the average value of a discrete random variable over numerous trials of an experiment? A. mean C. standard deviation B. probability D. variance 3. Which of the following represents the amount of spread, dispersion, or variability of the items in a distribution? A. mean or expected value B. median and mode C. outcomes and probability distribution D. variance and standard deviation 4. Which of the following is also equal to the square root of the variance? A. mean C. probability 93 B. median D. standard deviation 5. How would you interpret a very small variance or standard deviation but not equal to zero? A. The values of the random variables are farther from the mean. B. The values of the random variables are nearer to the mean. C. The values of the random variables are equal to the mean. D. The values of the random variables have no relationship with the mean. 6. Which of the following shows most likely the largest possible variance or variability? A. number of girls in a randomly selected three-child family B. number of newborn babies per minute. C. number of Oreo cookies inside a 133 grams pack from different branch of 711 stores D. number of patients who are positive with COVID-19 in different hospitals 7. Which of the following data shows most likely the smallest possible variance or variability? A. number of books in different branch of National Bookstore B. number of books inside a pack bag of grade 11 students C. number of books inside the library of different universities D. number of books inside the library of different households 8. What formula is described by ? = Ex?P(x)] -w?? A. the mean of a discrete random variable B. the variance of a discrete random variable C. the standard deviation of a discrete random variable D. the expected value of a discrete random variable For numbers 9-12, refer to the probability distribution of rolling a single unfair die. 12 13 4 5 6 P(x) 0 . 1 0.1 0. 1 0.5 0.1 0. 1 What is the mean of the probability distribution? A. 2.5 B. 3.7 C. 4.1 D. 5.7 10. What is the variance of the probability distribution? A. 1.81 B. 2.34 C. 3.70 D. 4.26 1 1. What is the standard deviation of the probability distribution? A. 1.07 B. 1.35 C. 1.92 D. 2.06 12. How would you interpret the mean value that you get in item number 9? A. The mean value is the difference between each probable value of the outcome when you roll the unfair die in numerous trials. B. The mean value is the higher probable value of the outcome when you roll the unfair die in numerous trials. C. The mean value is the lowest probable value of the outcome when you roll the unfair die in numerous trials. D. The mean value is the closest value to the most probable value of the outcome when you roll the unfair die in numerous trials. 13. Which of the following is NOT a property of the variance? A. The variance is not equal to the standard deviation. B. A small variance means that the distribution of the random variable is narrowly concentrated around the mean. C. A large variance means that the distribution is spread out, with some chance of observing values at some distance from the mean. D. The value of the variance is less than zero. For numbers 14-15. The mean of the probability distribution below is equal to 18.2 with a variance of 5.86 and a standard deviation of 2.42. Number off cellphones sold per day in a retail store (x) 18 19 20 22 Probability (P(x) 0.30 0.20 0.20 0.15 0.15 14. How would you interpret the mean value of 18.2? A. The least number of cellphones that will be sold in a day is 18 pieces. The highest number of cellphones that will be sold in a day is 18 pieces. The average number of cellphones that will be sold in a day is 18 pieces. D. No interpretation can be made about the mean value of 18.2. 15. How would you interpret the values of variance and standard deviation? A. It gives the difference between the highest number of cellphones and the least number of cellphones that carl be sold. B. It is the average number of cellphones that can be sold in a day. C. It describes how the data or the number of cellphones sold in a day varies. D. No interpretation can be made about the variance and standard deviation.Assessment Multiple Choice. Choose the letter of the best answer. Write the chosen letter on a separate sheet of paper. 1. Which of the following is an example of a discrete random variable? A. weight of newborn babies B. body teroperature of COVID-19'patients C. number of heads that will come out if you toss a coin mice D. height of basketball players 2. Which of the following best describe the mean of a discrete random variable? A. It is the lowest assumed value of a discrete random variable. B. It is the highest assumed value of a discrete random variable. C. It is the average value of a discrete random variable river numerous trials of an experiment. D. It is the amount of spread, dispersion, or variability of the assumed value of a discrete random variable. probability? 3. Which of the following best describe the variance and standard deviation of a A. It is the lowest assumed value of a discrete random variable. B. It is the highest assumed value of a discrete random variable. an experiment. C. It is the average value of a discrete random variable river numerous trials off D. It is the amount of spread, dispersion, or variability of the assumed value of a discrete rar dom variable. Which of the following best describe the standard deviation of a probability distribution? It is twice the variance. B. It is the product of the mean and the variance. C. It is the ratio of the mean and the variance. D. It is the square root of the variance. 5. How would you interpret a very small variance or standard deviation? A. The values of the random variables are equal to the mean. B. The values of the random variables are closer to the frean. C. The values of the random variables are farther from the mean. D. The values of the random variables have no relationship with the mean. 6. Which of the following data show rost likely the largest possible variance or variability? A. number of pieces of French fries in a regular pack from different orders off customers at Mcdonalds B. number of boys in families of three-children C. number of customers per hour who went shopping at SM Super Malls D. number of heads that will appear if two coins are tossed together repeatedly 7. Which of the following data show most likely the smallest possible variance or variability? the number of passengers in a tricycle per destinations B. the number of applicants in the different job opening C. the number of families who owa a private vehicle in different cities in NCR D. the number of adults who use public restrooms in Metro Manila 8. What formula is described by o = /E[x2P(x)] - uz ? A. the mean of a discrete random variable B. the variance of a discrete random variable C. the standard deviation of a discrete random variable D. the expected value of a discrete random variable For numbers 9 -12, refer to the probability distribution of the number of books borrowed from a school library in a day and its corresponding probabilities. 20 25 30 35 40 45 P(x 0 . 1 0. 1 0.4 0.2 0.1 0.1 9. What is the mean of the probability' distribution? A. 25 B. 29 C. 30 D. 32 10. How would you interpret the mean value that you get from item number 8? A. It is the least number of books borrowed from the school library in a day. B. It is the largest number of books borrowed from the school library in a day. C. It is the average number of books borrowed from the school library in a day. D. It is the difference between the largest and the least number of books borrowed! from the school library in a day 11. What is the variance of the probability distribution? A. 38 B. 40 C. 43 D. 46 12. What is the standard deviation of the probability distribution? A. 6,16 B. 6.32 C. 6.56 D. 6.78 13, Which of the following is NOT a property of the variance? A, A smalll variance means that the distribution of the random variable is narrowly concentrated around the mean. B. A large variance means that the distribution is spread out, with some chance of observing values at some distance from the mean. C. The variance is a value that is always positive. D. The variance is a value that is always negative. For numbers 14-15. The mean of the probability distribution below is equal to 37.05 with a variance of 36.75 and a standard deviation of 6.06. Number of ice candy sold per 40 45 day in a retail 30 32 36 42 store (x) Probability (P(x) 0.10 0.15 0.10 0.10 0.25 14. How would you interpret the mean value of 37.05? A. The least number of ice candy that will be sold in a day is 37 pieces. B. The highest number of ice candy that will be sold in a day is 37 pieces. C. The average number of ice candy that will be sold in a day is 37 pieces. D. No interpretation can be made about the mean value of 37.05. 15. If you are the owner of the retail store, how many ice candies will you prepare to ensure that you can supply the demands of your customers every day? A. 10 pieces and below C. 21-30 pieces B. 11-20 pieces D. 30 pieces and above