Concept #1: Determining the Mean and Standard Deviation of a Discrete Random Variable
Concept #2: Determining the Mean and Standard Deviation of a Discrete Random Variable: Intro
Practice: What is the mean and standard deviation for the following distribution for the number of drinks you have during a night on the weekend?
Practice: What are the mean and standard deviation for the following probability distribution of your profits in a particular betting game?
Practice: A particular game of slots costs $1 to play and it has a 70% chance of losing. If you win, you either get $5 or the jackpot of $1,000. There?s a 29.99% chance of winning $5. What are the expected profit for this game and the corresponding variance for the distribution?