Find the Expected Value and Variance for the Random Variable $f ( x ) = \frac { 1 } { 3 } ,$

question 53

Short Answer

Find the expected value and variance for the random variable whose probability density function is $f ( x ) = \frac { 1 } { 3 } ,$ $2 \leq x \leq 5 .$ Enter just two reduced fractions of form $\frac { a } { b }$ (unlabeled) in the order E(X), Var(X) separated by a comma.

---

Definitions:

Illegal Interference

Unauthorized or unlawful meddling or involvement in the affairs or property of others, often resulting in harm or damage.

Diminishing Returns

A rephrased definition: The principle stating that successive increases in inputs for production result in gradually decreasing increments in output.

Short Run

A period in which at least one of a firm's inputs is fixed and cannot be changed, while others may be varied to adjust production levels.

Long Run

A period of time in economics during which all factors of production and costs are variable.