The ____ is a statistical measure of the mean or average value of the possible outcomes.
A) probability distribution
B) standard deviation
C) expected value
D) coefficient of variation

Question

Quizplus · Accepted Answer

The expected value is a statistical measure of the mean or average value of the possible outcomes in a probability distribution. It is calculated by multiplying each possible outcome by its probability, and then summing up those values. The expected value is commonly used in decision-making and risk analysis to determine the most likely outcome of a particular event or situation.

The ____ Is a Statistical Measure of the Mean or Average