2.3-6. Place eight chips in a bowl: Three have the number 1 on them, two have the number 2, and three have the number 3. Say each chip has a probability of 1/8 of being drawn at random. Let the random variable X equal the number on the chip that is selected, so that the space of X is S = {1, 2, 3). Make reasonable probability assignments to each of these three outcomes, and compute the mean μ and the variance o² of this probability distribution.

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Can you please please please help me with this problem because I am really struggling with this, can you please do this step by step so I can follow along and understand how you did it.

2.3-6. Place eight chips in a bowl: Three have the number 1 on them, two have the
number 2, and three have the number 3. Say each chip has a probability of 1/8 of being
drawn at random. Let the random variable X equal the number on the chip that is
selected, so that the space of X is S = {1, 2, 3}. Make reasonable probability assignments
to each of these three outcomes, and compute the mean u and the variance o² of this
probability distribution.
Transcribed Image Text:2.3-6. Place eight chips in a bowl: Three have the number 1 on them, two have the number 2, and three have the number 3. Say each chip has a probability of 1/8 of being drawn at random. Let the random variable X equal the number on the chip that is selected, so that the space of X is S = {1, 2, 3}. Make reasonable probability assignments to each of these three outcomes, and compute the mean u and the variance o² of this probability distribution.
Expert Solution
Step 1: Determine the given variables.

The question is about discrete probability distribution.

Given :

Total no. of chips = 8

Probability of drawing each chip = 1/8

Random variable X : No. on the chip that is selected. 


To find :

Mean and variance of the probability distribution.

steps

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