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Find the pmf for the random variable X

0 votes
asked May 11 in BUS 1003H - Introduction to Financial Risk by Da Vinci (130 points)

I want the pmf to be able to calculate the expected value.

1 Answer

+1 vote
answered May 15 by Njabulo.Dube (2,200 points)

Hi Da Vinci

A probability mass function is a function that maps from the (discrete) sample space to the real interval \([0,1]\).

Assuming that the sample space of the random variable \(X\) is finite this means that all possible values can be listed in some way. Therefore, in order to find the pmf you need to specify the relative frequency of each outcome from the sample space.

For example, suppose \(X\) is the outcome when a fair dice is rolled. The sample space of \(X\) is the set \(\{1,2,...,5,6\}\). 

From this can you find the pmf of \(X\)?