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Qualitative analysis: expected value and variance

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What are the expected value and variance of the following probability distribution?

random variable x v. probability
1 0.05
2 0.05
3 0.10
4 0.10
5 0.15
6 0.15
7 0.25
8 0.15

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Solution Summary

The expert determines the expected value and variances for a given probability.

Solution provided by:
Gaurav Agarwal, MS
Education
  • BE, Bangalore University, India
  • MS, University of Wisconsin-Madison
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