A motorcycle insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for motorcycle insurance. How long a person has been a licensed rider is an example of a(n) ____________________ random variable.
Fill in the blank(s) with correct word
Q. 2In the notation below, X is the random variable, E and V refer to the expected value and variance, respectively. Which of the following is false?
a. E(3X) = 3E(X) c. E(X + 1) = E(X) + 1
b. V(2) = 0 d. All of these choices are true.
Q. 3Which of the following is a continuous random variable?
a. The number of employees of an automobile company.
b. The amount of milk produced by a cow in one 24-hour period.
c. The number of gallons of milk sold at Albertson's grocery store last week.
d. None of these choices.
Q. 4Which of the following is a discrete random variable?
a. The Dow Jones Industrial average.
b. The volume of water in Michigan Lakes.
c. The time it takes you to drive to school.
d. The number of employees of a soft drink company.
Q. 5In the notation below, X is the random variable, c is a constant, and V refers to the variance. Which of the following laws of variance is not true?
a. V(c) = 0 c. V(cX) = c2 V(X)
b. V(X + c) = V(X) + c d. None of these choices.
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