Find the Variance of the Probability Distribution for the Histogram

question 253

Multiple Choice

Find the variance of the probability distribution for the histogram:

• A) Var (
• X) = 4.28
• B) Var (
• X) = 4.65
• C) Var (
• X) = 4.2625
• D) Var (
• X) = 4.0125

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Definitions:

Average Product

The output obtained by dividing the total product by the number of units of the variable input used in production, ideally reflecting productivity per input unit.

Total Product

The total output or quantity of goods produced by a firm or economy at a given level of input.

Diminishing Returns

A principle stating that if one factor of production is increased while other factors are held constant, the incremental increases in output will eventually decrease.

Labor

The human effort, physical or mental, used in the production of goods and services.