Find the Expected Value of the Random Variable What Is the Expected Value of the Number of Employees

question 50

Multiple Choice

Find the expected value of the random variable. Round to the nearest cent unless stated otherwise.
-Sue Anne owns a medium-sized business. Use the probability distribution below, where X describes the number of employees who call in sick on a given day. $$\begin{array} { l | c c c c c } \text { Number of Employees Sick } & 0 & 1 & 2 & 3 & 4 \\\hline \mathrm { P } ( \mathrm { X } = \mathrm { x } ) & 0.05 & 0.4 & 0.3 & 0.15 & 0.1\end{array}$$ What is the expected value of the number of employees calling in sick on any given day? Round
The answer to two decimal places.

• A)2.00
• B)1.90
• C)1.85
• D)1.00

Understand the concept of liquidity and its importance in investment decision-making.

Comprehend strategies for achieving investment objectives within specified risk tolerances and constraints.

Recognize the importance of considering tax implications in investment decisions.

Understand the impact of tax policies on investment returns.

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Definitions:

Secondary Prevention

Strategies or actions taken to detect and treat an illness or condition early in its course to halt or slow its progression, ideally before it fully develops.

High-risk Situations

Scenarios or conditions that increase the likelihood of negative outcomes, such as accidents, diseases, or financial loss.

Gender Schema

A cognitive framework that organizes information relevant to gender, influencing how individuals perceive and interact with others based on gender norms and roles.

Traditionally Associated

Refers to things typically linked or connected due to cultural, historical, or common practice reasons.