Question

12. The following table lists the probability distribution for cash prizes in a lottery conducted at Lawson's Department Store. Compute the mean, variance and standard deviation of this distribution? X | P(X) 0 | 0.45 10 | 0.30 100 | 0.20 500 | 0.05

          12. The following table lists the probability distribution for cash prizes in a lottery conducted at Lawson's Department Store. Compute the mean, variance and standard deviation of this distribution?

X | P(X)
0 | 0.45
10 | 0.30
100 | 0.20
500 | 0.05

12. The following table lists the probability distribution for cash prizes in a lottery conducted at Lawson's Department Store. Compute the mean, variance and standard deviation of this distribution?

X | P(X)
0 | 0.45
10 | 0.30
100 | 0.20
500 | 0.05

Added by William H.

Elementary Statistics a Step by Step Approach

Allan G. Bluman 9th Edition

Instant Answer

Solved by Expert David Nguyen

05/24/2022

Step 1

Given: P(X=0) = 0.45 P(X=10) = 0.30 P(X=100) = 0.20 P(X=500) = 0.05 Mean (μ) = Σ(X * P(X)) μ = (0 * 0.45) + (10 * 0.30) + (100 * 0.20) + (500 * 0.05) μ = 0 + 3 + 20 + 25 μ = 48 Show more…

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12. The following table lists the probability distribution for cash prizes in a lottery conducted at Lawson's Department Store. Compute the mean, variance and standard deviation of this distribution? X | P(X) 0 | 0.45 10 | 0.30 100 | 0.20 500 | 0.05