The Expected Value of a Gamble Is the

question 144

Multiple Choice

The expected value of a gamble is the

• A) value of the best outcome.
• B) sum of the possible outcomes divided by the number of possible outcomes.
• C) value one hopes will occur.
• D) value of the worst outcome.
• E) sum of the possible outcomes multiplied by the probability of the possible outcomes.

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Definitions:

Upper Quartile

The value below which 75% of the observations in a group of data fall, marking the upper 25% of the data.

Weights

A measure of the heaviness of an object or the importance assigned to elements in a computational operation.

Police Officers

Law enforcement members responsible for maintaining public order, enforcing laws, and preventing, detecting, and investigating criminal activities.

Whiskers

In a box plot, the lines that extend from the quartiles to the furthest data points within a reasonable range, representing the spread of the bulk of the data.