The Expected Value of a Random Variable X Is 115

question 11

Multiple Choice

The expected value of a random variable X is 115 and the standard deviation is 21.The standard deviation of the random variable Y = 3X − 10 is

• A)63
• B)6.48
• C)53
• D)41

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Definitions:

Same Price

A situation where different products, services, or commodities are sold for an identical amount of money.

Market 1

A generalized term referring to a space or system in which buyers and sellers engage in the exchange of goods, services, or information.

Market 2

A term that might refer to a secondary or alternative market for goods, services, or securities distinct from the primary or original market.

Discriminating Monopolist

A monopolist that charges different prices to different consumers or in different markets for the same product, based on the willingness to pay.