Statistics for Business: Decision Making and Analysis, 3rd Edition

Exercises

Mix and Match

Match the descriptive phrases to the symbols on the right. In these exercises, X denotes a random variable.

1. Expected value of X	(a) E(X − μ)
2. Variance of X	(b) 10X
3. Standard deviation of X	(c) (X − 0.04)/σ
4. Shorthand notation for P(X = x)	(d) X + 10
5. Has 10 times the standard deviation of X	(e) E (X − μ)2
6. Is always equal to zero	(f) $\sqrt{\text{Var}\left(X\right)}$
7. Increases the mean of X by 10	(g) μ
8. Has standard deviation 1	(h) p(x)

True/False

Mark each statement True or False. If you believe that a statement is false, briefly say why you think it is false.

Exercises 9–14. A cable television provider is planning to change the way that it bills customers. The new billing would depend on the number of computers ...