We can think of the expected value of a random variable X as ________________.
A)The long-run average of the random variable values generated over 100 independent repetitions
B)The long-run average of the random variable values generated over 1000 independent repetitions
C)The long-run average of the random variable values generated over infinitely many independent repetitions
D)The long-run average of the random variable values generated over a finite number of independent repetitions

Question

Quizplus · Accepted Answer

The expected value of a random variable X is the theoretical mean of the distribution that X follows. It is calculated by summing the product of each possible value of X and its corresponding probability. In the context of probability theory and statistics, expected value is also known as the population mean or the first moment. As such, it represents the long-run average of the random variable values generated over infinitely many independent repetitions, making choice C the best answer.

We Can Think of the Expected Value of a Random