Hi, I would appreciate any guidance to do this exercise. I'm a lawyer and I'm quite lost with the subject:
Te question is:
Consider the following probability distribution:
X P(X)
-1 0.17
2 0.15
5 0.40
8 0.18
11 0.10
1.00
They ask (answer to four decimal places):
E(X)= _ _. _ _ _ _
V(X)= _ _. _ _ _ _
Your help is much appreciated.
Mauricio
Yes, for V(X) you will use the result from computing E(X).
Here's an example:
Expectation