Refer to the following table showing the probability distribution of payoffs from an activity to answer the question below: $$\begin{array} { c c c }
\text { Units } & \text { Payoff } & \text { Prabability } \
\hline 1 & \$ 30 & 10 \% \
\mathbf { 2 } & 40 & 25 \% \
3 & 60 & 30 \% \
4 & 50 & 20 \% \
5 & 10 & 15 \% \
\hline
\end{array}$$ What is the expected value?
A)16.5
B)28
C)36.5
D)42.5
E)49

Question

Refer to the following table showing the probability distribution of payoffs from an activity to answer the question below: $$\begin{array} { c c c } 
\text { Units } & \text { Payoff } & \text { Prabability } \
\hline 1 & \$ 30 & 10 \% \
\mathbf { 2 } & 40 & 25 \% \
3 & 60 & 30 \% \
4 & 50 & 20 \% \
5 & 10 & 15 \% \
\hline
\end{array}$$ What is the expected value?
A)16.5
B)28
C)36.5
D)42.5
E)49

Quizplus · Accepted Answer

The Answer of Refer to the following table showing the probability distribution of payoffs from an activity to answer the question below: $$\begin{array} { c c c } 
\text { Units } & \text { Payoff } & \text { Prabability } \
\hline 1 & \$ 30 & 10 \% \
\mathbf { 2 } & 40 & 25 \% \
3 & 60 & 30 \% \
4 & 50 & 20 \% \
5 & 10 & 15 \% \
\hline
\end{array}$$ What is the expected value?
A)16.5
B)28
C)36.5
D)42.5
E)49

Refer to the Following Table Showing the Probability Distribution of Payoffs