Find the standard deviation of the gambling game with probability distribution profit X -1 2.7 probability P(X) 0.8 0.2 Hint the population mean is -0.26 Answer:
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In this case, we have: Var(X) = (0.8 * (-1 - (-0.26))²) + (0.2 * (2.7 - (-0.26))²) = 0.8 * 0.74² + 0.2 * 2.96² = 1.3656 Show more…
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