Let pi = P{X = i} and suppose that p1 + p2 + p3 = 1. If

Chapter , Problem 40

(choose chapter or problem)

Get Unlimited Answers
QUESTION:

Let pi = P{X = i} and suppose that p1 + p2 + p3 = 1. If E[X] = 2, what values of p1, p2, p3 (a) maximize and (b) minimize Var(X)?

Questions & Answers

QUESTION:

Let pi = P{X = i} and suppose that p1 + p2 + p3 = 1. If E[X] = 2, what values of p1, p2, p3 (a) maximize and (b) minimize Var(X)?

ANSWER:

Step 1 of 4

Given data:

                                                                        Let  .

We have

If  

Add to cart


Study Tools You Might Need

Not The Solution You Need? Search for Your Answer Here:

×

Login

Login or Sign up for access to all of our study tools and educational content!

Forgot password?
Register Now

×

Register

Sign up for access to all content on our site!

Or login if you already have an account

×

Reset password

If you have an active account we’ll send you an e-mail for password recovery

Or login if you have your password back