That is the correct method and answerOriginally Posted by kwtolley
RonL8.8 is my answer, thanks for checking. list of possible answer are -
1. 17.5
2. 8.8
3. 7.5
4. 6.4
The expected value of the following probability distribution is _________.
X_I_ 1, 5, 10, 20, 50,
p_i 0.30, 0.40 0.10, 0.15, 0.05
0.30(1)+0.40(5)+0.10(10)+0.15(20)+0.05(50)=8.8
8.8 is my answer, thanks for checking. list of possible answer are -
1. 17.5
2. 8.8
3. 7.5
4. 6.4