(Answered) Discrete and continuous random variablesthe following table

Economics

Discrete and Continuous Random Variables.

The following table provides a probability distribution for the random variable x.

X: -2, 0, 3, 5

p(x): .10, .30, .20, .40

1. Compute μ, the expected value of x.

2. Suppose that in a certain market 40% of all new businesses fail in the first year. What is the probability that, of a random sample of 10 such new businesses in this market, exactly 5 fail in the first year? Assume that the failures are unrelated.

3. What is the number expected to fail?

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