is anyone having excel? according to my tutor is it just to plot in the numbers and then you get the answer?
In this question I supposed to use excel, but my computer doesnt do excel =(
I´ve tried to install it but it doesnt work, really frustrated about that!!!!
If anyone can help me, I get really happy!
Simulate 10 observations in Excel from a discrete random variable that can take two values: 0 or 5
with probabilities 0.2 and 0.8.
a) What is the expected value of this random variable?
b) What is the variance of this random variable?
c) Calculate the average of the data you simulated.
d) Now simulate 100 and 1000 observations and calculate the averages.
e) Explain the relationship between “The expected value” and “The average” (concepts that often
get confused)
Thank you so much!