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 1,000 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 is defined as the long-run average of the random variable values generated over infinitely many independent repetitions. In other words, it is the theoretical average that we would expect to obtain if we were able to generate an infinite number of independent observations of the random variable.

We Can Think of the Expected Value of a Random