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Step 1 a Compute E x the expected value of x The expected value of...

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Step 1 a Compute E x the expected value of x The expected value of a random variable is a measure for the central location Thus the expected value of a random variable is another way to refer to the mean Recall the formula the expected value E x of a discrete random variable x Multiply each value of the random variable by its respective probability and then sum these values xf x It can be helpful to add a column to the given table of information to organize the products of xf x Complete the table X 4 E x 8 f x 0 25 0 50 12 0 25 Thus E x A xf x 4 0 25 E x xf x

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