Outcome 0 1 5 10 1000 Probability 0.33 0.32 0.24 0.10 0.01 Which is the expected value of the random variable with the given probability distribution?

Question

asked Mar 25, 2022 80.5k views

1 Answer

Aavik · Answer 1 · 2022-03-31T08:01:27+0000

Answer: 12.52

Explanation:

To find the expected value, E(X), we will multiply each value of the random variable(outcome) by its probability and add the products.

The formula is given as
$E(X)=\sum xP(x)$ .

Given table

Outcome 0 1 5 10 1000

Probability 0.33 0.32 0.24 0.10 0.01

$E(X) = 0*0.33+1*0.32+5*0.24+10*0.10+1000*0.01\\\\=12.52$

hence, the expected value of the random variable with the given probability distribution = 12.52