Computing expected values and variance using the given probability distribution.
What are the expected value and variance of the following probability distribution?
|
Random Variable X
|
Probability
|
|
1
|
0.05
|
|
2
|
0.05
|
|
3
|
0.10
|
|
4
|
0.10
|
|
5
|
0.15
|
|
6
|
0.15
|
|
7
|
0.25
|
|
8
|
0.15
|