While Playing Monopoly, Andi Estimated the Probabilities of the Non-Zero

question 15

Essay

While playing Monopoly, Andi estimated the probabilities of the non-zero rents according to the following probability distribution: Consider the random variable x = dollar amount in rent collected in a Monopoly roll.
a)If the table above specifies the probability distribution of x, what is the mean of the random variable x?
b)If the probabilities are associated with the outcomes as in the table above, what is the standard deviation of the random variable x?

---

Definitions:

City Centers

Central areas of cities that often contain a concentration of cultural, commercial, and civic activities.

Total Fertility Rate

The average number of children that would be born to a woman over her lifetime under current age-specific fertility rates.

Gender Inequality

The unequal treatment or perceptions of individuals based on their gender, manifesting in different areas such as employment, education, and societal roles.

Crude Death Rate

The number of deaths occurring in a given population, location, or period per 1,000 individuals.