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 October 1, 2022, 5:33 pm ad1c9bdddf
The following outlines the process of calculating mean, variance, and standard deviation. The probability for the number of automobiles for policyholders are analyzed.