PRC-2 · Chapter 11 · Question 60 of 60
When calculating the Expected Value E(X) of a discrete probability distribution, you must:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Multiply each outcome (X) by its probability [P(X)] and sum the results.
Explanation
The expected value is the long-term weighted average of a probability distribution, calculated as ∑ [X * P(X)].
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