A random variable x has the following probability distribution:
a.Determine the expected value of x.
b.Determine the variance.
Definitions:
Financial Lease
A type of lease in which the lessee has use of the asset for most of its useful life, and the lease payments are designed to cover the lessor's purchase costs and provide a profit.
Lessor
The group that provides a property or asset for lease to another group, identified as the lessee.
Nonrecourse Basis
Nonrecourse Basis refers to a type of financing or lending where the borrower is not personally liable beyond the collateral for the loan.
Lessor
The party in a lease agreement who owns the leased asset and grants the lessee the right to use the asset in return for periodic payments.
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