The Expected Value of a Random Variable,denoted μ,Is Also Called

question 237

Multiple Choice

The expected value of a random variable,denoted μ,is also called its:

• A)mode.
• B)median.
• C)mean.
• D)variance.

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Definitions:

Orally

Orally means communicated or expressed through spoken words rather than in written form or by any other means of communication.

Expressed Agency

An agency relationship clearly stated in oral or written terms.

Agency

A relationship between two parties in which one party, the agent, is authorized to act on behalf of another party, the principal, in business transactions.

Agreement

One of the four elements necessary for a contract; consists of an offer made by one party, the offeror, and the acceptance of the offer by another party, the offeree.