SOA Exam P Sample Question 344
Study guide: Exam P-1
Let X be a random variable with probability density function
f(x) = \begin{cases} 2x, & \text{for } 0 < x < 1 \\ 0, & \text{otherwise.} \end{cases}A sample of size 3 is randomly selected from the distribution. Let Y be a random variable representing the median value from the sample.
Calculate the variance of Y.
- A) 0.019
- B) 0.030
- C) 0.056
- D) 0.500
- E) 0.714
Answer this question and see the worked solution