A loaded die lands on each of its six sides with the following distribution. a. What is the expected value of X? b. What is the variance of X? c. What is the coefficient of variation (CV) of X? d. If we randomly throw the die, what is the probability that it will land on an even number? X 1 2 3 4 5 6 Pr(X=x) 0.1 0.3 0.25 0.05 0.15 0.15 e. In case someone rolls a number smaller than, or equal to 3, they will receive $40, and they will pay $-45 otherwise. If we use Y to denote the random variable that captures the amount of money that one receives or pays, then specify the distribution of Y. f. Calculate the expected value of Y from part e.
A loaded die lands on each of its six sides with the following distribution. a. What is the expected value of X? b. What is the variance of X? c. What is the coefficient of variation (CV) of X? d. If we randomly throw the die, what is the probability that it will land on an even number? X 1 2 3 4 5 6 Pr(X=x) 0.1 0.3 0.25 0.05 0.15 0.15 e. In case someone rolls a number smaller than, or equal to 3, they will receive $40, and they will pay $-45 otherwise. If we use Y to denote the random variable that captures the amount of money that one receives or pays, then specify the distribution of Y. f. Calculate the expected value of Y from part e.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.CR: Chapter 13 Review
Problem 8CR
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A loaded die lands on each of its six sides with the following distribution.
a. What is theexpected value of X?
b. What is the variance of X?
c. What is the coefficient of variation (CV) of X?
d. If we randomly throw the die, what is the probability that it will land on an
even number?
X 1 2 3 4 5 6
Pr(X=x) 0.1 0.3 0.25 0.05 0.15 0.15
a. What is the
b. What is the variance of X?
c. What is the coefficient of variation (CV) of X?
d. If we randomly throw the die, what is the probability that it will land on an
even number?
X 1 2 3 4 5 6
Pr(X=x) 0.1 0.3 0.25 0.05 0.15 0.15
e. In case someone rolls a number smaller than, or equal to 3, they will receive
$40, and they will pay $-45 otherwise. If we use Y to denote the random variable that
captures the amount of money that one receives or pays, then specify the distribution
of Y.
f. Calculate the expected value of Y from part e.
$40, and they will pay $-45 otherwise. If we use Y to denote the random variable that
captures the amount of money that one receives or pays, then specify the distribution
of Y.
f. Calculate the expected value of Y from part e.
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