Given the following probability distributions, determine the expected values.
a.
x P(x)
2 0.31
4 0.26
7 0.43
b.
x P(x)
5 0.2
50- 0.2
500 - 0.2
5000 -0.2
50000-0.2

(You don't have to answer them for me! I just want to know how I would go about doing them myself! Perhaps you could do the first one as an example! Thanks! :) )

Question

Given the following probability distributions, determine the expected values.
a.	
x	P(x)
2	0.31
4	0.26
7	0.43
b.	
x	P(x)
5	0.2
50- 0.2
500	- 0.2
5000 -0.2
50000-0.2

(You don't have to answer them for me! I just want to know how I would go about doing them myself! Perhaps you could do the first one as an example! Thanks! :) )

anonymous · Answer

Basically what you do here is that....
Expected Value is the sum of all the probabilites multiplied by their value. I'll do the first one so you understand.
Expected value = E$$E = (.31)2 + (.26)4 +(.43)7$$
Do you see the format?

anonymous · Answer

Oh! So basically the first chart is one equation put together?

anonymous · Answer

yeah! you multiply like every probability with it's given value, and you add them all up!

anonymous · Answer

Alright! Thanks so much! :)