Explore BrainMass

Explore BrainMass

    Business statistics

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Homework #8

    Question 1 refers to the finite random variable X, whose p.m.f. is given below.

    x 0 1 2 4 8
    fX(x) 0.1 0.2 0.4 0.2 0.1

    Compute the mean, X, variance, V(X), and standard deviation, , of X.

    Questions 6 and 7 refer to the random variable X which gives the number of customers who visit my business in a given day. You know that the parameters of X are X = 130 and X = 25, but I do not know the p.d.f. or the c.d.f. for X. Let be the random variable that is the mean of a random sample of size n = 100 days.

    6. Find , , and

    7. Give a formula for the random variable, S, that is the standardization of . . What is the approximate distribution of S?

    © BrainMass Inc. brainmass.com June 3, 2020, 9:24 pm ad1c9bdddf
    https://brainmass.com/statistics/variance/business-statistics-finite-random-numbers-180583

    Attachments

    Solution Preview

    Please see the attached files.

    Homework #8

    Question 1 refers to the finite random variable X, whose p.m.f. is given below.

    x 0 1 2 4 8
    fX(x) 0.1 0.2 0.4 0.2 0.1

    Compute the mean, X, variance, V(X), and standard deviation, , of ...

    Solution Summary

    This is a series of business-related statistics problems. Finite random numbers are analyzed.

    $2.19

    ADVERTISEMENT