SOLUTION: The following probabilities for grades in management science have been determined based on past records: Grade Probability A .10 B .30 C .40 D .10 F .10 1.00 The grades are

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Question 910306: The following probabilities for grades in management science have been determined based on past records:
Grade Probability
A .10
B .30
C .40
D .10
F .10
1.00
The grades are assigned on a 4.0 scale, where an A is a 4.0, a B a 3.0, and so on. Determine the Expected grade and variance for the course.
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 

Hi

Expected =  = 2.2, C the expected grade

2.2 the mean in calculating the variance.



n	p	np	n-2.2	(n-2.2)^2

4	0.1	0.4	1.8	3.24

3	0.3	0.9	0.8	0.64

2	0.4	0.8	-0.2	0.04

1	0.1	0.1	-1.2	1.44

0	0.1	0	-2.2	4.84

		2.2		10.2 variance

 

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