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Alex787 [66]
2 years ago
9

What is an expected value and how is it computed? should we always expect to get the expected value? why or why not?

Social Studies
1 answer:
melisa1 [442]2 years ago
3 0

Expected price is the estimated gain or lack of partaking in an occasion oftentimes. We have to no longer usually count on to get the predicted price because the anticipated cost is calculated with the assumption that the regulation of massive numbers will come into play.

In data and possibility evaluation, the anticipated value is calculated by multiplying every one of the feasible results through the likelihood each outcome will occur after which summing all of those values. by way of calculating predicted values, buyers can choose the state of affairs most possibly to provide the favored outcome.

To locate the predicted price, E(X), or imply μ of a discrete random variable X, certainly multiply each cost of the random variable through its possibility and add the products. The formula is given as E ( X ) = μ = ∑ x P ( x ) .

Learn more about Expected price here

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