Refer to the Following Table Showing the Probability Distribution of Payoffs

question 54

Multiple Choice

Refer to the following table showing the probability distribution of payoffs from an activity to answer the question below: $$\begin{array} { c c c } \text { Units } & \text { Payoff } & \text { Prabability } \\\hline 1 & \$ 30 & 10 \% \\\mathbf { 2 } & 40 & 25 \% \\3 & 60 & 30 \% \\4 & 50 & 20 \% \\5 & 10 & 15 \% \\\hline\end{array}$$ What is the coefficient of variation for this distribution?

• A)0.39
• B)2.34
• C)0.86
• D)1.02
• E)0.10

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Definitions:

One-tailed

A one-tailed test in statistics is a hypothesis test where the region of rejection is on only one side of the sampling distribution, focusing on a direction of interest.

Two-tailed

A statistical test that considers both directions for the possibility of a relationship in the population, not just one or the other.

Very Significant Correlation

A strong and meaningful relationship between two variables indicated by statistical measures that far exceed the thresholds of significance.

Accounted Variance

The portion of the total variance in a set of data that is explained by a statistical model or variable.