The weighted average of the possible values that a random variable X can assume, where the weights are the probabilities of occurrence of those values, is referred to as the:
A)variance.
B)standard deviation.
C)expected value.
D)covariance.

Question

Quizplus · Accepted Answer

The weighted average of the possible values that a random variable X can assume, where the weights are the probabilities of occurrence of those values, is referred to as the expected value. This is denoted by E(X) and is the mean value that would be obtained if the random variable were repeatedly sampled an infinite number of times. Variance, standard deviation, and covariance are all measures of dispersion or relationship between two random variables, and are different concepts.

The Weighted Average of the Possible Values That a Random