Compute the mean and variance of the following probability d

Compute the mean and variance of the following probability distribution. (Round your answers to 2 decimal places.) X P(X) 7 .10 10 .30 13 .20 16 .40

Solution

Consider the table:

Thus,          
          
E(x) =    12.7   [ANSWER, MEAN]  
Var(x) = E(x^2) - E(x)^2 =    9.81   [ANSWER, VARIANCE]