What Is the Expected Value of the Probability Distribution for the Following

question 34

Essay

What is the expected value of the probability distribution for the following product? $$\begin{array} { | l | c | } \hline N P V & \text { Estimated probability of Product Alpha } \\\hline £ 4,500 & 0.1 \\\hline £ 6,000 & 0.1 \\\hline £ 7,500 & 0.2 \\\hline £ 9,000 & 0.2 \\\hline £ 10,500 & 0.2 \\\hline £ 12,000 & 0.1 \\\hline £ 13,500 & 0.1 \\\hline\end{array}$$

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Definitions:

Selective Attention

The cognitive process of focusing on a specific aspect of information while ignoring other perceivable information.

Divided Attention

Refers to the ability to process two or more responses or react to two or more different demands simultaneously.

Classmates

Individuals who are in the same class or course in a school or educational setting.

Class Inclusion

A cognitive development concept, referring to the ability to understand that an object can belong to more than one category at the same time.