Refer to the following probability distribution for profit to answer the question below: $$\begin{array} { c c }
\text { Prafit } & \text { Prabability } \
\hline \$ 30 &0 .05 \
40 &0 .25 \
50 & 0.60 \
60 & 0.10
\end{array}$$ What is the variance of this distribution?
A)48.75
B)2,376
C)525
D)70
E)11.875

Question

Refer to the following probability distribution for profit to answer the question below: $$\begin{array} { c c } 
\text { Prafit } & \text { Prabability } \
\hline \$ 30 &0 .05 \
40 &0 .25 \
50 & 0.60 \
60 & 0.10
\end{array}$$ What is the variance of this distribution?
A)48.75
B)2,376
C)525
D)70
E)11.875

Quizplus · Accepted Answer

The variance of a probability distribution is calculated as the sum of the squared deviations from the mean, weighted by their probabilities. In this case, the mean is 45, so the variance is:(0.05 * (30 - 45)^2) + (0.25 * (40 - 45)^2) + (0.60 * (50 - 45)^2) + (0.10 * (60 - 45)^2) = 48.75

Refer to the Following Probability Distribution for Profit to Answer Prafit Prabability $300.05400.25500.60600.10\begin{array} { c c } \text { Prafit } & \text { Prabability } \\\hline \$ 30 &0 .05 \\40 &0 .25 \\50 & 0.60 \\60 & 0.10\end{array} Prafit $30405060​ Prabability 0.050.250.600.10​​

Refer to the Following Probability Distribution for Profit to Answer $\begin{array} { c c } \text { Prafit } & \text { Prabability } \\\hline \$ 30 &0 .05 \\40 &0 .25 \\50 & 0.60 \\60 & 0.10\end{array}$