Find the Expected Value of a Random Variable X Having

question 117

Short Answer

Find the expected value of a random variable X having the following probability distribution: $$\begin{array} { c c c c c } x & 2 & 4 & 6 & 8 \\P ( X = x ) & \frac { 7 } { 20 } & \frac { 2 } { 20 } & \frac { 5 } { 20 } & \frac { 6 } { 20 }\end{array}$$ ​ $$E ( X ) =$$ __________

Critically assess the varying enforcement of antitrust laws across different presidential administrations.

Understand the basic principles and different types of taxation.

Recognize the concepts of progressive, regressive, and proportional taxes.

Identify the principle responsibilities of government in managing tax revenues and expenditures.

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Definitions:

Economically Efficient

A situation where resources are allocated in a way that maximizes the net benefit to society or an economy.

Total Costs

The sum of all expenses a firm incurs in the production of goods or services, including both fixed and variable costs.

Market System

A financial framework where the choices about investment, production, and allocation are directed by the price indicators generated through the dynamics of supply and demand.

Government Ownership

This refers to enterprises or assets owned by the government or public authorities, rather than by private individuals or companies.