Compute the expected value and standarddeviation, Microeconomics

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Compute the expected value and standarddeviation

The following probability distribution represents the number of people living in a Household (X), and the probability of occurrence (P(X)). Compute the Expected Value (mean), the Variance and the Standard Deviation for this random variable.

X 1 2 3 4 5 6 7

P(X) .23 .34 .18 .14 .07 .03 .01

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Microeconomics: Compute the expected value and standarddeviation

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Microeconomics: Compute the expected value and standarddeviation

Reference No:- TGS039363

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Recent Questions Asked Microeconomics

Q : Corporation taxable income for the current taxable year

Q : Computing required rate of return for shareholders

Q : Find value of deadweight loss related with price ceiling

Q : Company ability to survive in the short-term

Q : Compute the expected value and standarddeviation

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Q : Explain price of an intermediate good used in production

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Compute the expected value and standarddeviation

Reference No:- TGS039363

Recent Questions Asked Microeconomics

Q : Corporation taxable income for the current taxable year

Q : Computing required rate of return for shareholders

Q : Find value of deadweight loss related with price ceiling

Q : Company ability to survive in the short-term

Q : Compute the expected value and standarddeviation

Q : Common-size income statements for a company

Q : Calculate the company''s dividend yield

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Q : How many months will it take to pay off debt

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