A random variable has the following probability distribution:Probability Outcome0.10 100.80 200.10 60The expected value of the random variable is closest to:A.20.B.23.C.30.
Question
A random variable has the following probability distribution:Probability Outcome0.10 100.80 200.10 60The expected value of the random variable is closest to:A.20.B.23.C.30.
Solution
The expected value (or mean) of a random variable is calculated by multiplying each possible outcome by its probability, and then summing these values.
Here's how you can calculate it for this problem:
-
Multiply each outcome by its probability:
- 0.10 * 10 = 1
- 0.80 * 20 = 16
- 0.10 * 60 = 6
-
Add these values together:
- 1 + 16 + 6 = 23
So, the expected value of the random variable is 23. Therefore, the correct answer is B. 23.
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