The table below shows the probability distribution of X. Find V(X), that is, the variance of...

Question

Question

The table below shows the probability distribution of X. Find V(X), that is, the variance of X, to three decimal places.

Please help I am not sure where to begin and how to solve. This is a business analysis 2372 homework problem I got wrong and guessed on.

Answer 1

Answer #1

Mean = sum of (x*P(x))
= -1 * 0.08 +2*0.1 + 6 * 0.3 + 10 * 0.52
= 7.12

Variance = sum of (x - mean)^2 *P(x)
= (-1-7.12)^2 * 0.08 + (2-7.12)^2*0.1 +( 6-7.12)^2 * 0.3 + (10-7.12)^2 * 0.52
= 12.586

Answer 2

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