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    Calculating mean, variance, and standard deviation for a given distribution.

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    A recent survey by an insurance company showed the following probabilities for the number of automobiles each policyholder owned. Find the mean, variance, and standard deviation for the distribution.

    X:Automobiles - 1 2 3 4
    P(X) 0.5 0.35 0.11 0.04

    Please include formulas.

    © BrainMass Inc. brainmass.com June 3, 2020, 5:09 pm ad1c9bdddf
    https://brainmass.com/statistics/distribution-of-data/calculating-mean-variance-standard-deviation-distribution-15468

    Solution Summary

    The following outlines the process of calculating mean, variance, and standard deviation. The probability for the number of automobiles for policyholders are analyzed.

    $2.19

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