A binomial random variable X has 6 trials and probability of success 0.3. Calculate the mean of X to two decimal places.
Question
A binomial random variable X has 6 trials and probability of success 0.3. Calculate the mean of X to two decimal places.
Solution
The mean (expected value) of a binomial random variable is calculated using the formula:
Mean = n * p
where: n = number of trials p = probability of success on each trial
In this case, n = 6 and p = 0.3.
So, the mean of X is:
Mean = 6 * 0.3 = 1.8
So, to two decimal places, the mean of X is 1.80.
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