A weighted average of the values of a random variable, where the probability function provides weights, is known as
A) the probable value.
B) the median value.
C) the expected value.
D) the variance.

Question

Quizplus · Accepted Answer

The expected value of a random variable is the weighted average of its values, where the probabilities provide the weights. The probable value is the value that has highest probability, and the median is the middle value in a data set when arranged in order of increasing or decreasing values. The variance is a measure of how spread out the values of a random variable are from the expected value.

A Weighted Average of the Values of a Random Variable