An unfair die looks like an ordinary six-sided die but the outcomes are not equally likely. The probability distribution of the face value, XX, is as follows: xixi 1 2 3 4 5 6 Total P(X=xi)P(X=xi) 0.15 0.16 0.33 0.2 0.11 0.05 1 The expected value is computed, E[X]=3.11E[X]=3.11. To find the variance and standard deviation the following table was set up: xixi P(X=xi)P(X=xi) (xi−E[X])2(xi-E[X])2 (xi−E[X])2P(X=xi)(xi-E[X])2P(X=xi) 1 0.15 (1−3.11)2=(−2.11)2=4.4521(1-3.11)2=(-2.11)2=4.4521 4.4521⋅0.15=0.66784.4521⋅0.15=0.6678 2 (2−3.11)2=(−1.11)2=1.2321(2-3.11)2=(-1.11)2=1.2321 1.2321⋅0.16=0.19711.2321⋅0.16=0.1971 3 0.33 (3−3.11)2=(−0.11)2=(3-3.11)2=(-0.11)2= 0.0121⋅0.33=0.0040.0121⋅0.33=0.004 4 0.2 (4−3.11)2=(0.89)2=0.7921(4-3.11)2=(0.89)2=0.7921 0.7921⋅0.2=0.7921⋅0.2= 5 (5−3.11)2=(1.89)2=3.5721(5-3.11)2=(1.89)2=3.5721 3.5721⋅0.11=0.39293.5721⋅0.11=0.3929 6 0.05 8.3521⋅0.05=0.41768.3521⋅0.05=0.4176 E[X]=3.11E[X]=3.11 Total: Fill out the blanks (round to 4 decimals) in the table above and compute the VAR[X] and SD[X]: VAR[X]=VAR[X]= (Round the answer to 4 decimals) SD[X]=SD[X]= (Round the answer to 2 decimals)

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An unfair die looks like an ordinary six-sided die but the outcomes are not equally likely. The probability distribution of the face value, XX, is as follows:

xixi  1 2 3 4 5 6 Total
P(X=xi)P(X=xi)  0.15 0.16 0.33 0.2 0.11 0.05 1

The expected value is computed, E[X]=3.11E[X]=3.11. To find the variance and standard deviation the following table was set up:

 xixi   P(X=xi)P(X=xi)   (xi−E[X])2(xi-E[X])2   (xi−E[X])2P(X=xi)(xi-E[X])2P(X=xi) 
1 0.15  (1−3.11)2=(−2.11)2=4.4521(1-3.11)2=(-2.11)2=4.4521   4.4521⋅0.15=0.66784.4521⋅0.15=0.6678 
2    (2−3.11)2=(−1.11)2=1.2321(2-3.11)2=(-1.11)2=1.2321   1.2321⋅0.16=0.19711.2321⋅0.16=0.1971 
3 0.33 (3−3.11)2=(−0.11)2=(3-3.11)2=(-0.11)2=   0.0121⋅0.33=0.0040.0121⋅0.33=0.004 
4 0.2  (4−3.11)2=(0.89)2=0.7921(4-3.11)2=(0.89)2=0.7921   0.7921⋅0.2=0.7921⋅0.2= 
5    (5−3.11)2=(1.89)2=3.5721(5-3.11)2=(1.89)2=3.5721   3.5721⋅0.11=0.39293.5721⋅0.11=0.3929 
6 0.05    8.3521⋅0.05=0.41768.3521⋅0.05=0.4176 
E[X]=3.11E[X]=3.11     Total:  

Fill out the blanks (round to 4 decimals) in the table above and compute the VAR[X] and SD[X]:

VAR[X]=VAR[X]=  (Round the answer to 4 decimals)

 SD[X]=SD[X]=  (Round the answer to 2 decimals)

Expert Solution
Step 1

Given:

The probability distribution of the face value is:

xi  1 2 3 4 5 6 Total
P(X=xi) 0.15 0.16 0.33 0.2 0.11 0.05 1

E[X]=3.11

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