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Formulate 2 examples of each kind of random variable: DISCRETE and CONTINUOUS.

Formulate 2 examples of each kind of random variable: DISCRETE and CONTINUOUS.

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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Directions: Answer all the items below. Provide your solutions in an organized manner. I. Formulate 2 examples of each kind of random variable: DISCRETE and CONTINUOUS. Construct a probability distribution table if we let X the random variable be the number of boys in the family with 3 children. Use the table below. II. Probability Distribution of X No. of Boys (X) f(x) 3 An investor has six stocks that she follows each day. The random variable being studied is X, the number of stocks that increases in value each day. The probability function for this III. variable is shown below. 1 6. f(x)=DP[X%3Dx 0.34 .30 .20 .10 .05 .01 a. Find the probability that on a given day, the majority of the stocks will increase in value. b. Find the probability that on a given day, at least 2 of the stocks will increase in value. IV. Solve the mean and variance of the following discrete random variable. X - 8 2 p(x) 0.2 0.2 0.6
Transcribed Image Text:Directions: Answer all the items below. Provide your solutions in an organized manner. I. Formulate 2 examples of each kind of random variable: DISCRETE and CONTINUOUS. Construct a probability distribution table if we let X the random variable be the number of boys in the family with 3 children. Use the table below. II. Probability Distribution of X No. of Boys (X) f(x) 3 An investor has six stocks that she follows each day. The random variable being studied is X, the number of stocks that increases in value each day. The probability function for this III. variable is shown below. 1 6. f(x)=DP[X%3Dx 0.34 .30 .20 .10 .05 .01 a. Find the probability that on a given day, the majority of the stocks will increase in value. b. Find the probability that on a given day, at least 2 of the stocks will increase in value. IV. Solve the mean and variance of the following discrete random variable. X - 8 2 p(x) 0.2 0.2 0.6
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