Solution Found!
Let pi = P{X = i} and suppose that p1 + p2 + p3 = 1. If
Chapter , Problem 40(choose chapter or problem)
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