Question: We are given the following probability distribution. a. Calculate the mean, variance, and standard deviation. b. Suppose that Y = 3X + 2. For each

We are given the following probability distribution.

a. Calculate the mean, variance, and standard deviation.
b. Suppose that Y = 3X + 2. For each value of X, determine the value of Y. What is the probability distribution of Y?
c. Calculate the mean, variance, and standard deviation from the probability distribution of Y.
d. Use the laws of expected value and variance to calculate the mean, variance, and standard deviation of Y from the mean, variance, and standard deviation of X. Compare your answers in parts (c) and (d). Are they the same (except forrounding)?

P(x) 4 3.21

Step by Step Solution

★★★★★

3.24 Rating (168 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a b x 0 1 2 3 y 2 5 8 11 Py 4 3 2 ... 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

Document Format (1 attachment)

398-M-S-D-P-D (289).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

Given the following probability distribution for an infinite population with the discrete random variable, x: a. Determine the mean and the standard deviation of x. b. For the sample size n = 2,...

Given the following probability distribution for an infinite population with the discrete random variable, x: a. Determine the mean and the standard deviation of x. b. For the sample size n 5 2,...

You are given the following probability distribution for CHC Enterprises: State of Economy Probability Rate of return Strong 0.25 20 % Normal 0.45 9 % Weak 0.3 4 % What is the stock's expected...

3 What I Need to Know This module was designed and written with you in mind. It is here to help you understand why we need to find the mean and variance of a discrete random variable and how to...

Hello i need this to be solved for me pls because i am preparing for exam at the moment and i dont know wat to do MAT 281 EXERCISES 1. Two students are randomly selected from a statistics class, and...

MAT 281 EXERCISES 1. Two students are randomly selected from a statistics class, and it is observed whether or not they suffer from math anxiety. How many total outcomes are possible? Draw a tree...

ACT 1 1. Prepare a probability distribution then find the mean, variance and standard deviation for the courses completed by the students in a certain college. Course Number of Students (X) Tourism...

Answer this Solves problems involving mean and the variance of probability distribution. Two balls are drawn in succession without replacement from a box containing 5 red balls and 6 blue balls. Let...

3. Suppose that in a casino, a certain slot machine pays out an average of Php 15, with a standard deviation of Php 5,000. Every play of the game costs a gambler Php 20. a. Why is the standard...

Estimate the total consolidation settlement (primary & secondary) after 2 years and 9 months after the completion of primary consolidation settlement of an over consolidated clay layer under the...

An analyst predicts that there is a 40% chance that the U.S. economy will perform well. If the U.S. economy performs well, then there is an 80% chance that Asian countries will also perform well. On...

If the value of an unlevered firm is $ 1 2 million, what is the value of the same firm with some debt financing? Assume MM with taxes holds. Question 5 Answer a . $ 1 2 million b . $ 1 3 million c ....

What is the increase in sales (in $ million) of A, B and C put together over the 5 years? (a) 103 (b) 1202 (c) 668 (d) 854

Xr03-80 The accompanying table lists the federal minimum wage from 1955 to 2007. The actual and adjusted minimum wages (in constant 1996 dollars) are listed. a. Suppose you wish to show that the...

Xr03-79 The monthly unemployment rate in one state for the past 12 months is listed here. a. Draw a bar chart of these data with 6.0% as the lowest point on the vertical axis. b. Draw a bar chart of...

2009, Table 258. Draw a chart for each of the following. a. You wish to show that both verbal and mathematics test scores for all students have not changed much over the years. b. The exact opposite...

Gateway Communications is considering a project with an initial fixed assets cost of $ 1 . 6 7 million that will be depreciated straight - line to a zero book value over the 1 0 - year life of the...

e. Calculate the DOL, DFL, and DCL for the new pie wie. 2. Income statements for Siam Foods, Inc. from 2018 to 2020 appear below. 2. Enter the data into your worksheet and calculate the degree of...

Ten years ago, News Corp. raised capital by issuing 20-year quarterly coupon bonds with $1,000 par value. a. If investors required 12% return, quarterly compounding, for News Corp.s bonds when the...