Question: Observe that for a random variable Y that takes on values 0 and 1, the expected value of Y is defined as follows: E(Y) =

Observe that for a random variable Y that takes on values 0 and 1, the expected value of Y is defined as follows: E(Y) = 0xPr(Y=0)+1xPr(Y=1) Now, suppose that X is a Bernoulli random variable with success probability Pr (X = 1) = p. Use the information above to answer the following questions. Show that E(X") =p. E(X)= (0 x 1-p)+ (1 xp)= p (Usethe tool palette on the right to insert superscripts. Enter you answer in the same format as above.) Suppose that p = 0.56. Compute the mean of X. E(X)= 0.56 (Round your response to two decimal places) Compute the variance of X. var(X)= 0.2464 (Round your response to three decimal places) Compute the skewness of X using the following formula: E(X-EX) ] E(x) -3[E(x?) ] 1ECO]+ 2E0R ' Skewness of X = D (Round your response to three decimal places)
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