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One invests 100 shares of IBM stocks today. He expects that there could be five possible...

One invests 100 shares of IBM stocks today. He expects that there could be five possible opening prices with the respective probabilities at 9:30 a.m. in NYSE the next day. The following table lists these possible opening prices and their respective probabilities:

Outcome 1

Outcome 2

Outcome 3

Outcome 4

Outcome 5

Possible Opening Price of IBM, Xi

$182.11

$163.88

$180.30

$216.08

$144.92

Probability, pi

13%

19%

33%

17%

18%

Let X represent the five random opening prices of IBM the next day, calculate the mean, variance, and the standard deviation of X. Make your comments on the results you obtain. (Keep two decimals)

Math   Statistics-And-Probability   
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