When the discrete random variable is expressed in terms of dollars, the mean of the distribution is known as the ________ .
A)expected monetary value
B)average value of the distribution
C)expected value of the distribution
D)expected value of sample information

Question

Quizplus · Accepted Answer

The mean of a distribution for a discrete random variable expressed in terms of dollars is referred to as the expected monetary value.

When the Discrete Random Variable Is Expressed in Terms of Dollars