Refer to the following table showing the probability distribution of payoffs from an activity.
$$\begin{array} { c c c }
\text { Units } & \text { Payaff } & \text { Prabability } \
\hline 1 & \$ 30 & 10 \% \
2 & 40 & 25 \% \
3 & 60 & 30 \% \
4 & 50 & 20 \% \
5 & 10 & 15 \%
\end{array}$$
-What is the expected value?
A) 16.5
B) 28
C) 36.5
D) 42.5
E) 49

Question

Refer to the following table showing the probability distribution of payoffs from an activity.
 $$\begin{array} { c c c } 
\text { Units } & \text { Payaff } & \text { Prabability } \
\hline 1 & \$ 30 & 10 \% \
2 & 40 & 25 \% \
3 & 60 & 30 \% \
4 & 50 & 20 \% \
5 & 10 & 15 \%
\end{array}$$
-What is the expected value?
A) 16.5
B) 28
C) 36.5
D) 42.5
E) 49

Quizplus · Accepted Answer

The Answer of Refer to the following table showing the probability distribution of payoffs from an activity.
 $$\begin{array} { c c c } 
\text { Units } & \text { Payaff } & \text { Prabability } \
\hline 1 & \$ 30 & 10 \% \
2 & 40 & 25 \% \
3 & 60 & 30 \% \
4 & 50 & 20 \% \
5 & 10 & 15 \%
\end{array}$$
-What is the expected value?
A) 16.5
B) 28
C) 36.5
D) 42.5
E) 49

Refer to the Following Table Showing the Probability Distribution of Payoffs