The Random Variable X Represents the Number of Credit Cards

question 92

Multiple Choice

The random variable x represents the number of credit cards that adults have along with the corresponding probabilities. Find the mean and standard deviation. $$\begin{array} { c | c } \mathrm { x } & \mathrm { P } ( \mathrm { x } ) \\\hline 0 & 0.07 \\1 & 0.68 \\2 & 0.21 \\3 & 0.03 \\4 & 0.01\end{array}$$

• A)mean: 1.23; standard deviation: 0.66
• B)mean: 1.30; standard deviation: 0.32
• C)mean: 1.30; standard deviation: 0.44
• D)mean: 1.23; standard deviation: 0.44

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Definitions:

Data Set

A collection of data points or information that are usually related and collected for the purpose of analysis or making conclusions.

Pivot Table

A tool in statistical software, such as SPSS or Excel, that allows the user to easily manipulate the rows, columns, and frequencies included in cross-tabulation tables.

Reliability Values

Quantitative measures indicating the consistency and stability of a measurement or test over repeated applications or time periods.

Data Mining

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