1.) Let X be a discrete random variable with the values x=0,1,2 and Let the probabilities be
P(X=0)=0.25
P(X=1)=0.50
P(X=2)=0.25
a. Calculate E(X)
b.Find E(X^2)
c. Find Var(X)
d. Given a new function
g(X)=3X+2
2.) Find the expectation and variance of this function.
Data for the Alcorner are provided a time series plot of this sample, including the axis labels and a linear trend line. Give comments on the trend.
3.) Data on sale values from Solarists are provided in the file Sales.xls of the folder Exercise Data. The sale values are in hundreds of dollars. Sort the data and then obtain describtive statistics for this sample. Compare the mean to the median. Are they very close? What is the implication?