When the variable is finite or countably infinite, the random variable is called a discrete random variable.

Hence answer is Discrete random variable

Hence answer is Discrete random variable

Question

asked 2021-07-02

An investor plans to put $50,000 in one of four investments. The return on each investment depends on whether next year’s economy is strong or weak. The following table summarizes the possible payoffs, in dollars, for the four investments.

Certificate of deposit

Office complex

Land speculation

Technical school

amp; Strong amp;6,000 amp;15,000 amp;33,000 amp;5,500

amp; Weak amp;6,000 amp;5,000 amp;−17,000 amp;10,000

Let V, W, X, and Y denote the payoffs for the certificate of deposit, office complex, land speculation, and technical school, respectively. Then V, W, X, and Y are random variables. Assume that next year’s economy has a 40% chance of being strong and a 60% chance of being weak. a. Find the probability distribution of each random variable V, W, X, and Y. b. Determine the expected value of each random variable. c. Which investment has the best expected payoff? the worst? d. Which investment would you select? Explain.

Certificate of deposit

Office complex

Land speculation

Technical school

amp; Strong amp;6,000 amp;15,000 amp;33,000 amp;5,500

amp; Weak amp;6,000 amp;5,000 amp;−17,000 amp;10,000

Let V, W, X, and Y denote the payoffs for the certificate of deposit, office complex, land speculation, and technical school, respectively. Then V, W, X, and Y are random variables. Assume that next year’s economy has a 40% chance of being strong and a 60% chance of being weak. a. Find the probability distribution of each random variable V, W, X, and Y. b. Determine the expected value of each random variable. c. Which investment has the best expected payoff? the worst? d. Which investment would you select? Explain.

asked 2021-06-02

True or false?

a. The center of a 95% confidence interval for the population mean is a random variable.

b. A 95% confidence interval for μμ contains the sample mean with probability .95.

c. A 95% confidence interval contains 95% of the population.

d. Out of one hundred 95% confidence intervals for μμ, 95 will contain μμ.

a. The center of a 95% confidence interval for the population mean is a random variable.

b. A 95% confidence interval for μμ contains the sample mean with probability .95.

c. A 95% confidence interval contains 95% of the population.

d. Out of one hundred 95% confidence intervals for μμ, 95 will contain μμ.

asked 2021-05-12

Let \(X_{1},X_{2},...,X_{6}\) be an i.i.d. random sample where each \(X_{i}\) is a continuous random variable with probability density function

\(f(x)=e^{-(x-0)}, x>0\)

Find the probability density function for \(X_{6}\).

\(f(x)=e^{-(x-0)}, x>0\)

Find the probability density function for \(X_{6}\).

asked 2021-05-17

How many bit strings of length seven either begin with two 0s or end with three 1s?