The expected value of a random variable is:
A)the most frequently occurring value of that variable.
B)the most recent value of that variable.
C)the weighted average of all possible values,where the weights on each possible value correspond to the probability of that value occurring.
D)impossible to determine.

Question

Quizplus · Accepted Answer

The expected value of a random variable is the weighted average of all possible values, where the weights on each possible value correspond to the probability of that value occurring. It is not necessarily the most frequently occurring value or the most recent value, and it can be calculated using mathematical formulas.

The Expected Value of a Random Variable Is