The above table provides the probability distribution of price of an input next year in Country A and Country B.
-Refer to the table above. The expected value of the price of the input in Country A is_______ the expected value of the input in Country B and the extent of the variation in price in Country A is than the extent of variation in price in Country B.

Question

Quizplus · Accepted Answer

The expected value (mean) of a set of numbers is calculated by summing all the values and dividing by the number of values. The extent of variation can be understood through measures like the range, variance, or standard deviation, which indicate how spread out the values are. Without specific numbers, we can't calculate these exactly, but the statement "the same as; less" implies that while the average prices might be equal between Country A and Country B, the prices in Country A vary less around that average than in Country B. This answer is chosen based on the understanding of expected value and variation, despite the lack of specific data in the question.

The Above Table Provides the Probability Distribution of Price of an Input