The expected value of the discrete distribution, if you have to pay $.50 to pick one package at random, is of -$0.08.
<h3>What is the mean of a discrete distribution?</h3>
The expected value of a discrete distribution is given by the <u>sum of each outcome multiplied by it's respective probability</u>.
For this problem, considering the cost of $0.5, the distribution is given as follows:
- P(X = 0.2) = 12/(12 + 15 + 23) = 12/50 = 0.24.
- P(X = -0.1) = 15/(12 + 15 + 23) = 15/50 = 0.3.
- P(X = -0.2) = 23/(12 + 15 + 23) = 23/50 = 0.46.
Hence the expected value is given by:
E(X) = 0.2 x 0.24 - 0.3 x 0.1 - 0.2 x 0.46 = -$0.08.
More can be learned about the expected value of a discrete distribution at brainly.com/question/13008984
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