Compute the Variance and Standard Deviation of a Discrete Random

question 10

Multiple Choice

Compute the Variance and Standard Deviation of a Discrete Random Variable
-The owner of a farmer s market was interested in determining how many oranges a person buys when they buy oranges. He asked the cashiers over a weekend to count how many oranges a person bought when they bought oranges and record this number for analysis at a later time. The data is given below in the table. The random variable x represents the number of oranges purchased and P(x) represents the probability that a customer will buy x oranges. Determine the variance of the number of oranges purchased by a customer. $\begin{array}{|c|c|c|c|c|c|c|c|c|c|c|}\hline x & 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 & 9 & 10 \\\hline P(x) & 0.05 & 0.19 & 0.20 & 0.25 & 0.12 & 0.10 & 0 & 0.08 & 0 & 0.01 \\\hline\end{array}$

• A) \(3.57\)
• B) \(1.95\)
• C) \(3.97\)
• D) \(0.56\)

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Definitions:

Confidence Interval

A range of values used to estimate the true value of a population parameter, calculated from a given set of sample data.

Daily Income

The amount of money earned by an individual or entity in a single day.

Parking Fees

Parking fees are charges imposed for the use of parking facilities, aiming to regulate parking spaces and generate revenue for maintenance or other municipal needs.

Confidence Interval

A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter, with a certain degree of confidence.