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.)

Solution

mean = P(Xi)*Xi = 0.1*2+0.35*8+0.25*14+0.3*20 = 12.5

variance = P(Xi)*(Xi-mean)^2 = 0.1*(2-12.5)^2 + 0.35*(8-12.5)^2 + 0.25*(14-12.5)^2 + 0.3*(20-12.5)^2 = 35.55