Question

Expected value is: Group of answer choices the average probability of all possible outcomes of a future event occurring, weighted by each possible outcome individually the sum of all probabilities of all possible outcomes of a future event occurring the sum of all possible outcomes of a future event, weighted by its probability of occurring

Answer 1

Answer:

the average probability of all possible outcomes of a future event occurring, weighted by each possible outcome individually

Step-by-step explanation:

An experiment can be defined as an investigation which typically involves the process of manipulating an independent variable (the cause) in order to be able to determine or measure the dependent variable (the effect).

This ultimately implies that, an experiment can be used by scientists to show or demonstrate how a condition causes or gives rise to another i.e cause and effect, influence, behavior, etc in a sample.

In Statistics, an expected value can be defined as the average probability of all possible outcomes of a future event occurring in an experiment, weighted by each possible outcome individually. Thus, an expected value in theory refers to the outcome an individual expect to obtain from an experiment in the long-run.

Mathematically, an expected value can be calculated by summing the products of each distinct outcome and their probability respectively.