Compute the mean and variance of the following probability distribution. (Round your answers to 2 decimal places.) X P(X) 8 0.10 16 0.25 24 0.35 32 0.30 what is the Mean and the Variance
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Step 1
10) + (16 * 0.25) + (24 * 0.35) + (32 * 0.30) µ = 0.8 + 4 + 8.4 + 9.6 µ = 22.8 Now, let's calculate the variance (σ²) using the formula: σ² = Σ [(X - µ)² * P(X)] Show more…
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