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Calculate Mean and Standard Deviation

The random variable X is the number of houses per month sold by a realtor. The probability distribution is given below. Find the mean and standard deviation of X:

X (houses sold) / f(x)
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(0 , 0.24)
(1 , 0.01)
(2 , 0.12)
(3 , 0.16)
(4 , 0.01)
(5 , 0.14)
(6 , 0.11)
(7 , 0.21)

Solution Preview

Hello. In this case, you should know that f(x) is the same as y.
You should firstly find the mean of X
How you do this is simple:
You add up all of the value of each ...

Solution Summary

This will show you how to calculate means and standard deviations.

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