Let X1, X2¦ X5 be a sequence of five independent discrete random variables, each with a distribution

Question:

Let X1, X2€¦ X5 be a sequence of five independent discrete random variables, each with a described by:

(a) Find the probability mass function of the median (third largest) of these five samples. (b) For this random variable, is the median an unbiased estimate of the mean? That is, does the expected value of the median equal the mean of the Xi? Prove your answer.
(c) Find the variance of the median.

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...