The random variable X has the following distribution. a. Find the mean and variance for the probability

Question:

The random variable X has the following distribution.

a. Find the mean and variance for the probability distribution below.
b. Determine the probability distribution of Y where Y = 5X.
c. Use the probability distribution in part (b) to compute the mean and variance of Y.
d. Use the laws of expected value and variance to find the expected value and variance of Y from the parameters ofX.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...