Question

The probability distribution for the daily sales at Michael's Co. is given below. Daily Sales (In...

The probability distribution for the daily sales at Michael's Co. is given below.

Daily Sales

(In $1,000s)

Probability

40

0.1

50

0.4

60

0.3

70

0.2

What is the variance of the above distribution?

Math   Statistics-And-Probability   
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Answer #1

40000 0.1 4000 1600000000 160000000
50000 0.4 20000 2500000000 1000000000
60000 0.3 18000 3600000000 1080000000
70000 0.2 14000 4900000000 980000000

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