"You are required to submit a substantial response to all questions and provide all necessary theorems and techniques for the solutions"Given the table below, answer the following questions:xP(x)00.1210.1820.3030.15450.1060.05 Complete the missing probability.What is the expected value from the table?Find the standard deviation
Question
"You are required to submit a substantial response to all questions and provide all necessary theorems and techniques for the solutions"Given the table below, answer the following questions:xP(x)00.1210.1820.3030.15450.1060.05 Complete the missing probability.What is the expected value from the table?Find the standard deviation
Solution
- Complete the missing probability:
The sum of all probabilities in a probability distribution should be equal to 1. So, to find the missing probability, we add up all the given probabilities and subtract from 1.
0.12 + 0.18 + 0.30 + 0.15 + 0.10 + 0.05 = 0.90
So, the missing probability is 1 - 0.90 = 0.10
- Expected value:
The expected value (E) of a random variable is the sum of the product of each outcome and its probability. So, we multiply each x value by its corresponding probability and sum them up.
E = (00.12) + (10.18) + (20.30) + (30.15) + (40.10) + (50.05) + (6*0.10) = 0 + 0.18 + 0.60 + 0.45 + 0.40 + 0.30 + 0.60 = 2.53
- Standard deviation:
The standard deviation is a measure of the amount of variation or dispersion of a set of values. To find the standard deviation, we first need to find the variance. The variance is the expected value of the squared deviation of a random variable from its mean value.
First, calculate the squared deviation from the mean for each outcome, multiply by the corresponding probability, and sum up to find the variance.
Variance = Σ [ P(x) * (x - E)^2 ]
= (0.12*(0-2.53)^2) + (0.18*(1-2.53)^2) + (0.30*(2-2.53)^2) + (0.15*(3-2.53)^2) + (0.10*(4-2.53)^2) + (0.05*(5-2.53)^2) + (0.10*(6-2.53)^2)
Calculate the above expression to get the variance.
Finally, the standard deviation is the square root of the variance.
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