Suppose you are drawing cards out of a 30 card deck. The following table reports the value

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Suppose you are drawing cards out of a 30 card deck. The following table reports the value of each type of card and the number of that type in the deck. 

Value                           Number
 
1 ……………..........……….….6

2 ………………….........……..7

3………………………...........6

4………………………..........3
 5 ……………………….........8

a.) Are the card values discrete or continuous? 

b.) What is the expected value of a single draw? 

c.) Is the expected value you found a value you could actually draw? Does it have to be? 

d.) What is the population variance? 

e.) What is the population standard deviation? 

f.) Draw the probability distribution of the cards.

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...
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Statistics For Business And Economics

ISBN: 9780321826237

12th Edition

Authors: James T. McClave, P. George Benson, Terry T Sincich

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