Find the Expected Value of a Random Variable X Having

question 195

Multiple Choice

Find the expected value of a random variable X having the following probability distribution:

• A) E(
• X) = 0.79
• B) E(
• X) = 1.07
• C) E(
• X) = 0.73
• D) E(
• X) = 0.86

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Definitions:

Corporate Liability

The legal and financial responsibilities a corporation faces for its actions or failures to act, potentially including civil liabilities or criminal penalties.

Tort

A wrongful act or an infringement of a right (other than under contract) leading to civil legal liability.

Crime

An action or omission that constitutes an offense and is punishable by law.

Respondeat Superior

Latin for “let the superior speak”; the principle by which liability for harm caused by an agent/employee is held by the principal/employer.