The expected value of a random variable,denoted μ,is also called its:
A)mode.
B)median.
C)mean.
D)variance.

Question

Quizplus · Accepted Answer

The expected value of a random variable is the average value it takes on over many trials or observations. This is typically calculated using the formula E(X) = ∑xP(X=x), where X is the random variable, x is each possible value of X, and P(X=x) is the probability of X taking on the value x. The expected value is often referred to as the mean of the distribution. Therefore, the best choice is C, mean.

The Expected Value of a Random Variable,denoted μ,Is Also Called