helpp meeeeeeeeee (08.06 MC)Consider the following dot plot. Of the following statements, which two characteristics of this dot
plot make the median a better choice than the mean to summarize the center of the distribution? A dot plot with an axis marked from 0 to 10 at increments of 1 is shown. Plot shows 8 dots at 10, 7 dots at 9, 6 dots at 8, 3 dots at 7, 2 dots at 0 and 6, and 1 dot at 5. The mean is equal to the median and the data are symmetric. The peak is equal to the median and the data are skewed. The data are symmetric and there are outliers. The data are skewed and there are outliers.
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The expected value of the winnings from the game is $4
<h3>How to determine the expected value?</h3>The payout probability distribution is given as:
Payout ($) 2 4 6 8 10
Probability 0.5 0.2 0.15 0.1 0.05
The expected value is then calculated as:
This gives
E(x) = 2 * 0.5 + 4 * 0.2 + 6 * 0.15 + 8 * 0.1 + 10 * 0.05
Evaluate the expression
E(x) = 4
Hence, the expected value of the winnings from the game is $4
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