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:
Long Term
Referring to an extended period of time, often focusing on strategic planning, investments, or goals that will take several years to achieve.
Customer Interest
The preferences, needs, and desires of consumers that influence their purchasing decisions.
Marketing Channels
The pathways through which goods and services flow from producer to the end consumer.
Power Shift
A significant change in the balance of power within an industry, market, or between nations, often due to technological innovation, market forces, or sociopolitical changes.
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