The weighted average of the possible values that a random variable X can assume, where the weights are the probabilities of occurrence of those values, is referred to as the:
A. variance.
B. standard deviation.
C. expected value.
D. None of these choices.
Analysis:
A. Incorrect. They are referred to as expected value.
B. Incorrect. They are referred to as expected value.
C. Correct. They are referred to as expected value.
D. Incorrect. They are referred to as expected value.
ANSWER : C
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