The probability distribution of a random variable X taking values 1, 2, 3, 4, 5 is given (a) Find the value of P. (b) Find the mean of X. (c) Find the variance of X.
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Solution
∑5i=1P(X=i)=1
⇒P(X=1)+P(X=2)+P(X=3)+P(X=4)+P(X=5)=1
⇒12+14+18+116+P=1
⇒P=1−116
⇒P=1516
Mean of X=1+2+3+4+55=3
Variance of X=(1−3)2+(2−3)2+(3−3)2+(4−3)2+(5−3)24=4+1+1+44=52