The sum of the product of each value of a discrete random variable X and its probability is referred to as its:
A)probability distribution.
B)expected value.
C)variance.
D)standard deviation.

Question

Quizplus · Accepted Answer

The sum of the product of each value of a discrete random variable X and its probability is referred to as its expected value. Therefore, option B is the correct answer. Option A refers to the list of probabilities for each possible outcome of a random variable. Option C and D are measures of the spread of a probability distribution and are calculated using the expected value.

The Sum of the Product of Each Value of a Discrete