Question: A market research team compiled the following discrete probability distribution for families residing in Randolph County. In this distribution x represents the number of evenings the family dines outside their home during a week.
x P(x)
0 0.30
1 0.50
2 0.10
3 0.10
(i) Calculate the mean (Expected) number of dines outside their home.
(ii) Calculate the variance of the number of dines.
(iii) Calculate the standard deviation of the number of dines.