The random variable x has the following probability distribution: 
a.Is this probability distribution valid? Explain and list the requirements for a valid probability distribution.
b.Calculate the expected value of x.
c.Calculate the variance of x.
d.Calculate the standard deviation of x.
Definitions:
Internal Control System
A process implemented by a company to provide reasonable assurance regarding the achievement of objectives related to operations, reporting, and compliance.
Control Activities
Policies, procedures, and mechanisms implemented by an organization to prevent or detect errors or frauds, ensuring the integrity of financial reporting and compliance with laws and regulations.
Risk Assessment
The process of identifying, evaluating, and estimating the levels of risk involved in a situation, followed by the coordination and economical application of resources to minimize, monitor, and control the probability and impact of unfortunate events.
Idle Cash
Cash that is not currently employed in any investment or operation, therefore not earning any return or interest.
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