Let X have possible values {1,2,3,4,5} and probability mass function x 1 2 3 4 5 px(x) 1/7 1/14 3/14 2/7 2/7 Calculate E[|X-2|].
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![Let X have possible values {1,2,3,4,5} and probability mass function
x
1 2 3 4 5
px(x) 1/7 1/14 3/14 2/7 2/7
Calculate E[X-21].](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd8b73935-bec3-4631-8228-da8128bafe3c%2F6f0c3b4d-e22e-4e8f-af8e-ef6f23d7c0eb%2Fkg1urxp_processed.jpeg&w=3840&q=75)
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- 4. Show the following function is a legitimate probability mass function. Px(x) = Pr(X = x) = ())*(** " x = 0, 1, 2,..., n.Suppose that the random change in value of a financial asset is X over the first day and Y over the second. Suppose also that Var(X) =18 and Var(Y) = 26 In this case, the total change in the value over these two days is given by X +Y. Do you have enough information to compute Var(X +Y)? If so, compute this value. If not, explain what additional information you need to do so.Let X be a random variable with pdf f(x) = kx*,-1Suppose that n observations are chosen at random from a continuous pdf fY(y). What is the probability that the last observation recorded will be the smallest number in the sample?The X be a continuous random variable with cumulative distribution function 1 F(x) = 1 for x > 0 (and zero otherwise). - 1+ x Find the cumulative distribution function of Y = log X and sketch its curve.What is the value if the constant c for p(x) to qualify as a probability mass function? p(x)=c(1/4)x-1 if x = 1, 2, 3, 4, 5, ... and p(x) = 0 otherwise.SEE MORE QUESTIONS