Solved: The random variable x takes on the values 5 20 30 and 200, Basic Statistics

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The random variable x takes on the values 5 20 30 and 200

The random variable X takes on the values 5, 20, 30, and 200 with probabilites 0.60, 0.30, 0.08, and 0.02 respectively.

Use the statistical capacity of your calculator to find the expected value of Xrounded to one place of decimal. The same data will be used in question 4, so don't clear your calculator just yet.

Using the same data as in Question 3, find the VARIANCE of the random variable X rounded to two places of decimal.

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Basic Statistics: The random variable x takes on the values 5 20 30 and 200

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