a recent poll asked 152 investment managers one criteria for a college scholarsh

Question

a recent poll asked 152 investment managers one criteria for a college scholarship is that a student must score in the top 3% of his class. The average numeric grade for all students is 78 with a standard deviation of 8 points. What numeric score does a student need to get in order to qualify for a college scholarship? 8, 9. A recent poll asked 152 investment managers across the U.S. about their short term investment outlook. The results were: 6 investment managers were very bullish; 59 were bullish; 44 were neutral; 32 were bearish; and 11 were very bearish. (Let X be the variable that reflects the level of optimism of investment managers. Set X-5 for very bullish down to X-1 for very bearish). Develop a probability distribution for level of optimism and find the expected value

Explanation / Answer

Total frequency = 6 + 59 + 44 + 32 + 11 = 152

The probability density here is computed as:

The expected value now is computed as:

E(X) = 5*(6/152 ) + 4*(59/152) + 3*(44/152) + 2*(32/152) + (11/152)

E(X) = 3.1118

Therefore 3.1118 is the expected value of X here.

Level of optimism X P(X=x) Very Bullish 5 6/152 Bullish 4 59/152 Neutral 3 44/152 Bearish 2 32/152 Very Bearish 1 11/152

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.