Question

Question 3 (1 point) Given the following probability distribution, what is the expected value? Outcome P(Outcome)...

Question 3 (1 point) Given the following probability distribution, what is the expected value? Outcome P(Outcome) 31 0.12 25 0.08 2 0.06 14 0.21 40 0.00 6 0.53 Round to 2 decimal places as needed.

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Let X be a random variable:

The probability distribution of X is:

X P(X=x)

31 0.12

25 0.08

2 0.06

14 0.21

40 0.00

6 0.53

The Expected value of X is:

E(X) =Σ; + P(x:)

E(X) = 31 * 0.12 + 25 * 0.08 +2*0.06 + 14*0.21 +40 * 0.00 + 60.53

E X ) = 3.72 +2 +0.12 +2.94 +0+ 3.18

E(X) = 11.96

Add a comment
Know the answer?
Add Answer to:
Question 3 (1 point) Given the following probability distribution, what is the expected value? Outcome P(Outcome)...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT