Question

Im just needing a little bit more help with these type of problems ;/

Answer 1

Expected value = 2.21

Step-by-step explanation:

The formula to obtain the expected value is given by:

`E\mleft(X\mright)=\mu=∑xP\mleft(x\mright)`

We will proceed to calculate the given scenario as given below:

`\begin{gathered} E\mleft(X\mright)=\mu=∑xP\mleft(x\mright) \\ E(X)=(1*0.31)+(2*0.41)+(3*0.07)+(4*0.18)+(5*0.03) \\ E(X)=0.31+0.82+0.21+0.72+0.15 \\ E(X)=2.21 \\ \\ \therefore E(X)=2.21 \end{gathered}`

Therefore, the expected value of this scenario is 2.21