A Random Variable X Has a Distribution Given by F(0)=

question 45

Essay

A random variable X has a distribution given by f(0)= 0.3,f(1)= 0.2,f(2)= 0.5.(a)Find μ.(b)Find Var(X).

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Definitions:

Consumer Derives

The satisfaction or utility that a consumer obtains from purchasing and using goods or services.

Satisfaction

The fulfilment of one's needs or desires through the consumption of goods or services, often used as a measure of consumer contentment with a product.

Marginal Utility

The additional satisfaction or utility that a consumer gains from consuming one more unit of a good or service.

Pretzels

A type of baked pastry made from dough that is commonly shaped into a knot and typically salted.