Question: You are presented with a random variable, X, that has possible outcomes of 1, 2, 3, 4, and 5. Each outcome is equally likely so

You are presented with a random variable, X, that has possible outcomes of 1, 2, 3, 4, and 5. Each outcome is equally likely so each outcome has a P(X) = 1/5 or 0.20.

What is the probability that X will be equal to 2?

Step by Step Solution

★★★★★

3.47 Rating (150 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Since each outcome is equally likely the pr... View full answer

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 Finance Questions!

A cost payoff table is given as Cost Payoff Table State of Nature Decision sl s2 s3 dl 358 757 809 d2 951 444 1035 d3 332 377 763 a. What choice should be made by the optimistic decision maker? (3...

. A vertical pole that is 2 meters tall casts a shadow that is 1.5 meters long. Nearby, at the same time, another vertical pole casts a shadow that is 6.5 meters long. How tall is this pole? a. Make...

A simple model is sometimes used in order to illustrate the production-scheduling maxim, "balance flow, not capacity." Consider a factory that consists of three workstations where each customer order...

Consider the file "Google.csv" that contains daily returns of Google in 2018. Assume now that you are interested in modeling random variable X, the number of days that the Google stock will be down...

Discuss the purpose of the cash budget. If the cash for the first quarter of the fiscal year indicates excess cash at the end of each of the first two months, how might the excess cash be used? Give...

You are tasked with assessing a client's needs, identifying available resources to match their needs and helping them outline their goals and plan of action. You are presented with a 28-year-old male...

You are presented with an Affidavit and the signer has already signed the document. You should: Refuse to complete the notarization because it must be signed in the notary's presence? or Have the...

Notary Public study guide questions: To properly identify your signer named in documents as "James Carl Braden", his acceptable form of identification should read: A. James Carl Braden B. James C....

Imagine you are a case manager supervisor that is providing supervision to staff who are working with inmates who can be released to mandated substance abuse treatment programs as an alternative to...

Problem (Mix and Yield Variance): Standard Cost card details of Product G are as follows: Direct Material A 2Kg @40/= P80 Direct Material B 3Kg @20/= P60 Actual data for the month of July is as...

Two alternative pieces of municipal solid waste bailing equipment are being considered for a project with a design life of 1 2 yr . Alternative 1 has a capital cost of $ 9 6 0 0 , zero salvage value,...

1. Here is the 95% confidence interval estimate of the proportion of female medical school students: 0.449

3. Test whether the squared and product terms can be omitted from the quadratic model. (a) State the hypotheses. (b) Evaluate the test statistic using Im outputs for the two models. (c) Calculate the...

Is there an example of how a business analysis essay should be structured?

Describe the trade-offs and considerations made when choosing IoT connection protocols

Can you please help me solve requirement 4, I would appreciate a step-by-step solution. Thanks! The Langley Batting Company manufactures wood baseball bats. Langley's two primary products are a youth...

Assessing simultaneous changes in CVP relationships Braun Corporation sells hammocks; variable costs are $75 each, and the hammocks are sold for $125 each. Braun incurs $240,000 of fixed operating...

Find the equation of the image of the curve y = x 2 after each of the following combinations of transformations and, in each case, sketch the graph of the resulting curve. a. A stretch in the...

Find the coordinates of the points on the curve y = x 3 3x 8 where the gradient is 9.

The diagram shows the points E, F and G lying on the line x + 2y = 16. The point G lies on the x-axis and EF = FG. The line FH is perpendicular to EG. Find the coordinates of E and F. E F H (5,-7) G X

Was the womens choice of pictures a good way to deal with the mess hall problem?

Using the example you identified in Think about It, #4, or a new example, analyze a situation in which groupthink, the Abilene Paradox, or the Lucifer Effect took place. Who was involved? What roles...

How does it feel when you are in an unbalanced power relationship? What is it like to have more power? Less power?