Consider a random variable X with the following probability function:0.3 if x = 0,0.2 if x = 1,f(x) =0.5 if x = 2,otherwise.(a) Find V(X) using the formulaV(X) = E[(X – E(X))*].(b) Using the result of (a) only, find V(3X+ 3).

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Answered: Consider a random variable X with the…

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter9: Counting And Probability

Section9.4: Expected Value

Problem 1E: If a game gives payoffs of $10 and $100 with probabilities 0.9 and 0.1, respectively, then the...

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Consider a random variable X with the following probability function: 0.3 if x = 0, 0.2 if æ = 1, f(x) = 0.5 if x = 2, %3D 0 otherwise. (a) Find V(X) using the formula V(X) = E[(X – E(X))*]. (b) Using the result of (a) only, find V(3X + 3).