SOA Exam P Sample Question 574
Study guide: Exam P-1
A gardener models his strawberry (S) / blueberry (B) harvest with the following joint probability distribution. Note that three of the entries are smudged and cannot be read.
S \ B |
1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| 1 | 0.07 | 0.06 | 0.06 | 0.05 | 0.01 |
| 2 | 0.07 | 0.10 | 0.08 | 0.05 | 0.03 |
| 3 | 0.04 | 0.05 | 0.06 | 0.05 | 0.04 |
| 4 | 0.01 | 0.02 | ? | ? | ? |
Calculate the variance of the strawberry harvest.
- A)
1.03 - B)
1.04 - C)
1.07 - D)
1.09 - E) Cannot be determined based on information provided.
Answer this question and see the worked solution
Concepts tested
- Conditional and Marginal Probability Functions
- Joint Probability Function
- Variance and Standard Deviation