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Please use this table to answer the following questions.
X
2
3
4
5
6
P(X)
.1
.2
.3
(1) What is the mean of X?
(2) What is the standard deviation of X?
(3) Please find the probability that x is 4 or greater.
(4) Suppose that Y= 2X+3. For each value of X, please determine the value of Y. What is the probability distribution of Y.
(5) What is the mean of Y?
(6) What is the standard deviation of Y?
Explain movement on production possibilities frontier, shifts in the curve of a PPF, costs along the curve of a ppf, and meaning of points on the graph of a PPF
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