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Subjects / LC Mathematics / Statistics and Probability

Expected value and fair games

Calculate the expected value of a random variable and use it to judge whether a game or decision is fair.

5th Year6th Year HigherOrdinary
15practice questions

Multiple choice: 4 · Numeric answer: 9 · Written answer (self/teacher assessed): 2

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Numeric answerPaper 2 – Statistics and Probability
A random variable X takes the value 7 with probability 1/4, the value 10 with probability 1/4 and the value 2 with probability 1/2. Find E(X).
Whole numbers, decimals (2.5) or fractions (3/4).
Hint 1

Multiply each value by its probability.

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