Which is the expected value of the random variable with the given probability distribution? a 5.65 C. 12.52 b. 100.44 d. 5 Please select the best answer from the choices provide…

Question

asked Jul 11, 2021 65.1k views

2 Answers

Jreichert · Answer 1 · 2021-07-16T16:58:22+0000

The probability distribution is given below:

$\left|\begin{array}cOutcome& 0& 1& 5& 10& 1000\\Probability& 0.33& 0.32& 0.24& 0.10& 0.01\end{array}\right|$

Answer:

C. 12.52

Explanation:

Given the probability distribution below:

$\left|\begin{array}cccccOutcome& 0& 1& 5& 10& 1000\\Probability& 0.33& 0.32& 0.24& 0.10& 0.01\end{array}\right|$

Expected Value of the random variable

=(0 X 0.33)+(1 X 0.32) +(5 X 0.24) +(10 X 0.10) + (1000 X 0.01)

=0+ 0.32+1.2+1+10

=12.52

The correct option is C.