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Statement of a problem № m41198

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Consider the following discrete probability distribution: x P(x) 5……………………..0.10 10……………………..0.15 15……………………..0.25 20……………………..0.50 a. Calculate the expected value of the random variable. b. Let y = x + 5. Calculate the expected value of the new random variable y. c. Let z = 5 x. Calculate the expected value of the new random variable z. d. From your calculations in part a and part b, indicate the effect that adding a constant to a random variable has on the expected value of the random variable. e. From your calculations in part a and part c, indicate the effect that multiplying a random variable by a constant has on the expected value of the random variable.




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