Statistics: Informed Decisions Using Data (4th Edition)

Published by Pearson
ISBN 10: 0321757270
ISBN 13: 978-0-32175-727-2

Chapter 8 - Section 8.1 - Assess Your Understanding - Applying the Concepts - Page 413: 33b

Answer

$μ_X=-0.05~dollars$ $σ_X=5.76~dollars$

Work Step by Step

$μ_X=Σ[x.P(x)]=35\times\frac{1}{38}+(-1)\times\frac{37}{38}=\frac{-2}{38}=-0.05$ $σ_X=\sqrt {Σ[x^2.P(x)]-μ_X^2}=\sqrt {35^2\times\frac{1}{38}+(-1)^2\times\frac{37}{38}-(-0.05)^2}=5.76$
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