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3. (18/222, Expected Value and Variance) The Philippine Housing Survey reported the following data on the number of bedrooms in owner-occupied and renter-occupied houses in central cities of the country. E(x) = Var (x) = 6x = Bedrooms a. Define a random variable x = number of bedrooms in renter-occupied houses and develop a probability distribution for the random variable. Let x = 4 represent 4 or more bedrooms. Show tabular computation/solution. Compute the expected value, variance, and standard deviation for the number of bedrooms in renter-occupied houses E(y) = 0 1 2 3 4 or more Var (y) = Number of Houses (1,000s) Owner-Occupied 23 541 3,832 8,690 3,783 16,869 Renter-Occupied 547 5,012 6,100 2,644 557 14,860 b. Define a random variable y = number of bedrooms in owner-occupied houses and develop a probability distribution for the random variable. Let y = 4 represent 4 or more bedrooms. Show tabular computation/solution. Compute the expected value, variance, and standard deviation for the number of bedrooms in owner-occupied houses. c. What observations can you make from a comparison of the number of bedrooms in renter-occupied versus owner-occupied homes? 3

3. (18/222, Expected Value and Variance) The Philippine Housing Survey reported the following data on the number of bedrooms in owner-occupied and renter-occupied houses in central cities of the country. E(x) = Var (x) = 6x = Bedrooms a. Define a random variable x = number of bedrooms in renter-occupied houses and develop a probability distribution for the random variable. Let x = 4 represent 4 or more bedrooms. Show tabular computation/solution. Compute the expected value, variance, and standard deviation for the number of bedrooms in renter-occupied houses E(y) = 0 1 2 3 4 or more Var (y) = Number of Houses (1,000s) Owner-Occupied 23 541 3,832 8,690 3,783 16,869 Renter-Occupied 547 5,012 6,100 2,644 557 14,860 b. Define a random variable y = number of bedrooms in owner-occupied houses and develop a probability distribution for the random variable. Let y = 4 represent 4 or more bedrooms. Show tabular computation/solution. Compute the expected value, variance, and standard deviation for the number of bedrooms in owner-occupied houses. c. What observations can you make from a comparison of the number of bedrooms in renter-occupied versus owner-occupied homes? 3

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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3. (18/222, Expected Value and Variance) The Philippine Housing Survey reported the following data on the number of bedrooms in owner-occupied and renter-occupied houses in central cities of the country. E(x) = Var (x) = 6x = Bedrooms a. Define a random variable x = number of bedrooms in renter-occupied houses and develop a probability distribution for the random variable. Let x = 4 represent 4 or more bedrooms. Show tabular computation/solution. Compute the expected value, variance, and standard deviation for the number of bedrooms in renter-occupied houses E(y) = 0 1 2 3 4 or more Var (y) = Number of Houses (1,000s) Owner-Occupied 23 541 3,832 8,690 3,783 16,869 Renter-Occupied 547 5,012 6,100 2,644 557 14,860 b. Define a random variable y = number of bedrooms in owner-occupied houses and develop a probability distribution for the random variable. Let y = 4 represent 4 or more bedrooms. Show tabular computation/solution. Compute the expected value, variance, and standard deviation for the number of bedrooms in owner-occupied houses. c. What observations can you make from a comparison of the number of bedrooms in renter-occupied versus owner-occupied homes? 3
Transcribed Image Text:3. (18/222, Expected Value and Variance) The Philippine Housing Survey reported the following data on the number of bedrooms in owner-occupied and renter-occupied houses in central cities of the country. E(x) = Var (x) = 6x = Bedrooms a. Define a random variable x = number of bedrooms in renter-occupied houses and develop a probability distribution for the random variable. Let x = 4 represent 4 or more bedrooms. Show tabular computation/solution. Compute the expected value, variance, and standard deviation for the number of bedrooms in renter-occupied houses E(y) = 0 1 2 3 4 or more Var (y) = Number of Houses (1,000s) Owner-Occupied 23 541 3,832 8,690 3,783 16,869 Renter-Occupied 547 5,012 6,100 2,644 557 14,860 b. Define a random variable y = number of bedrooms in owner-occupied houses and develop a probability distribution for the random variable. Let y = 4 represent 4 or more bedrooms. Show tabular computation/solution. Compute the expected value, variance, and standard deviation for the number of bedrooms in owner-occupied houses. c. What observations can you make from a comparison of the number of bedrooms in renter-occupied versus owner-occupied homes? 3
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