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Calculate the expected value of the scenario.
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Calculate the expected value of the scenario.

Calculate the expected value of the scenario.-example-1
User Rassar
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1 Answer

3 votes

Expected value:


E(x)=\Sigma(x_i*p(x_i))

For the given scenario:


E(x)=(1*0.25)+(2*0.38)+(3*0.03)+(4*0.16)+(5*0.18)
E(x)=0.25+0.76+0.09+0.64+0.9
E(x)=2.64

Then, the expected value is 2.64

User Rogerstone
by
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