Find the Expected Value of a Random Variable X Having

question 63

Short Answer

Find the expected value of a random variable X having the following probability distribution: $$\begin{array} { c c c c c } x & 10 & 20 & 30 & 40 \\P ( X = x ) & \frac { 25 } { 60 } & \frac { 20 } { 60 } & \frac { 5 } { 60 } & \frac { 10 } { 60 }\end{array}$$ ​ $$E ( X ) =$$ __________

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Definitions:

Semi-Fixed Marketing Cost

Costs associated with marketing that have both fixed and variable elements, changing with the level of output or sales to some degree, but not proportionately.

Marketing Research

The process of gathering, analyzing, and interpreting information about a market, product, or service.

Public Relations

The practice of managing and disseminating information from an individual or an organization to the public to influence their perception.

Fragile X Syndrome

A genetic disorder causing intellectual disability, behavioral challenges, and physical characteristics, due to mutation on the X chromosome.