Reference no: EM131426172
Dichotomous Random Variable
Suppose the random variable X takes on only two values, according to the probability distribution given below.
a. Find the mean, variance, and standard deviation of X.
b. Suppose P(X = 1) = 0.7, and therefore P(X = 0) = 1 - 0.7 = 0.3. Find the mean, variance, and standard deviation of X.
c. Suppose P(X = 1) = 0.8. Find the mean, variance, and standard deviation of X.
d. Suppose P(X = 1) = p and P(X = 0) = 1 - p = q. Find the mean, variance, and standard deviation of X in terms of p and q.
e. For what values of p (and q) is the variance of X greatest?
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Healthcare organization and with healthcare managers
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