The Expected Value of a Discrete Random Variable

question 6

Multiple Choice

The expected value of a discrete random variable

• A)is the outcome that is most likely to occur.
• B)can be found by determining the 50% value in the c.d.f.
• C)equals the population median.
• D)is computed as a weighted average of the possible outcome of that random variable, where the weights are the probabilities of that outcome.

---

Definitions:

Shirking

The behavior of employees who avoid or reduce work effort, underperforming in their job responsibilities, often when unsupervised or inadequately monitored.

Unionization Rate

The percentage of a particular population of workers that belongs to labor unions; alternatively, the percentage of a population of workers that is represented by one union or another in collective bargaining.

Food Workers

Individuals engaged in occupations related to the preparation, distribution, and serving of food, often in the hospitality and retail sectors.

U.S. Bureau of Labor Statistics

A federal agency responsible for collecting and analyzing economic data related to labor market activity, working conditions, and price changes in the economy.