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A probability function is given by p(0) = 0.3164, p(1) = 0.4219, p(2) = 0.2109, p(3) = 0.0469, and p(4) = 0.0039. Find its mean and variance.
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Aug 30
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Answer: The mean or expected value is
(0)(0.3164) + (1)(0.4219) + (2)(0.2109) + (3)(0.0469) + (4)(0.0039) = 1.000.
The variance is
(0)2
(0.3164) + (1)2 (0.4219) + (2)2
(0.2109) + (3)2 (0.0469) + (4)2
(0.0039) – (1.000)2 =1.750 – 1.000
= 0.750.
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