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Math Help - expected value

  1. #1
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    Question expected value

    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
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  2. #2
    Grand Panjandrum
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    Quote Originally Posted by kwtolley
    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
    That is the correct method and answer

    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
    RonL
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