The "Expected Value" Is

question 24

Multiple Choice

The "expected value" is

• A)the mean.
• B)the weighted average.
• C)both a and b.
• D)the greatest outcome.

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Definitions:

Random Variable

A Random Variable is a variable whose possible values are numerical outcomes of a random phenomenon.

Normal Curve

A symmetrical, bell-shaped distribution where most occurrences take place around the mean and probabilities for values taper off as they move away from the mean.

Standard Deviation

A statistic that measures the dispersion or variability of a dataset relative to its mean, used to quantify the amount of variation.

Mean

The average of a set of numbers, calculated by dividing the sum of these numbers by their quantity.