If the Probability Distribution of X Is $$\begin{array} { c c } \mathrm { X } & \mathrm { P } ( \mathrm { X } ) \\3 & 1 / 8 \\4 & 1 / 8 \\5 & 3 / 8 \\6 & 3 / 8\end{array}$$

question 106

Multiple Choice

If the probability distribution of X is:
$$\begin{array} { c c } \mathrm { X } & \mathrm { P } ( \mathrm { X } ) \\3 & 1 / 8 \\4 & 1 / 8 \\5 & 3 / 8 \\6 & 3 / 8\end{array}$$
-What is the variance of X?

• A)1
• B)2
• C)3
• D)4
• E)5

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Definitions:

Financial Statement

A financial statement is a formal record of the financial activities and position of a business, person, or other entity, presenting the results of operations and financial status over a period.

Investing

The act of allocating resources, usually money, with the expectation of generating an income or profit.

Operating

Refers to the day-to-day activities and core functions directly related to a company's primary business operations, such as sales and service delivery.

Cost Concept

An accounting principle that states assets should be recorded at their cost at the time of acquisition.