Question: Some probability distributions. Here is a probability distribution for a random variable X: Value of X 2 3 4 Probability 0.2 0.4 0.4 (a) Find

Some probability distributions. Here is a probability distribution for a random variable X:

Value of X 2 3 4 Probability 0.2 0.4 0.4

(a) Find the mean and standard deviation for this distribution.

(b) Construct a different probability distribution with the same possible values, the same mean, and a larger standard deviation. Show your work and report the standard deviation of your new distribution.

(c) Construct a different probability distribution with the same possible values, the same mean, and a smaller standard deviation. Show your work and report the standard deviation of your new distribution.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Business Statistics Questions!