Question - The probability distribution for a random variable X is given in the table below.
|
x
|
5
|
10
|
15
|
20
|
|
p(x)
|
0.10
|
0.15
|
0.70
|
0.05
|
a. Find the mean, variance, and standard deviation of X.
b. Find the probability X takes on a value smaller than the mean.
c. Using the probability distribution, explain why the value of the mean of X makes sense.