Question

Which describes the expected value:

A. the sum over all outcomes of the value of the outcome times the probability of the outcome

B. the level of confidence that a sample mean accurately represents a population mean

C. the population mean

D. the interval around the sample mean that you expect to contain the population mean

I believe it is B?? Maybe?

Answer 1

No it's not B. Check out these flashcards

https://quizlet.com/113808847/stats-4-flash-cards/

Answer 2

@jim_thompson5910

Then it would be D?

Answer 3

see attached for the screenshot

Answer 4

`D. the interval around the sample mean that you expect to contain the population mean`
that's the confidence interval

Answer 5

It's the population mean then?

Answer 6

as those flash cards are saying, it's `A. the sum over all outcomes of the value of the outcome times the probability of the outcome` which is the best way to describe/calculate the \(\large {\color{blue}{\text{Expected Value}}}\)

Answer 7

expected value = (probability of event1)*(outcome of event1)+(probability of event2)*(outcome of event2)+...

and so on