Asked by ARIELA FERMIN GARCIA on Jun 09, 2024
Verified
A weighted average of the values of a random variable, where the probability function provides weights, is known as the
A) probable value.
B) median value.
C) expected value.
D) variance.
Expected Value
The long-run average value of repetitions of the experiment it represents, reflecting the probability-weighted average of all possible values.
Probability Function
This is a function in mathematics that determines the probability of different outcomes happening in an experiment.
Weighted Average
An average where each quantity to be averaged is assigned a weight, reflecting its importance.
- With precision, assess the expected value, variance, and standard deviation of probability distributions.
Verified Answer
FS
Faith SorianoJun 13, 2024
Final Answer :
C
Explanation :
The expected value is a measure of central tendency that takes into account the probabilities of different outcomes. It is calculated by multiplying each possible value of the variable by its corresponding probability, and then summing these products. This gives a weighted average that reflects the overall tendency of the variable. The other options (probable value, median, variance) do not involve weighting by probabilities in the same way.
Learning Objectives
- With precision, assess the expected value, variance, and standard deviation of probability distributions.