In order to explain finicial concepts to your clients you need to have
1 answer:
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Solution :
Given :
X = the number of boys in a family of four children
Families having four children are chosen randomly.
The gender distribution in the four child family are equally probable.
Thus,
X P(X) CDF
0 = 1/16
1 = 1/4
2 = 3/8
3 = 1/4
4 = 1/16 1
