In assessing credit risks, a bank investigates the number of credit cards people have. With x representing

Question:

In assessing credit risks, a bank investigates the number of credit cards people have. With x representing the number of credit cards adults have, the accompanying table describes the probability for a population of applicants (based on data from Maritz Marketing Research, Inc.).

Determine whether a probability distribution is given. In those cases where a probability distribution is not described, identify the requirement that is not satisfied. In those cases where a probability distribution is described, find its mean, variance, and standard deviation.

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...