SlideShare a Scribd company logo
EXPECTED VALUE OF RANDOM
VARIABLES
Statistics and Probability
JANUARY 16, 2017
Submitted by: Afrasiyab Haider
Roll#: 16-ARID-02
FROM: BS-IT 2nd
Submitted to: Ma’am Maryam Ashfaq
1 Expected value of Random variables
Afrasiyab Haider|16-ARID-02
Def:
A random variable, X, is a numerical measure of the outcomes of an experiment.
Let X be a random variable assuming the values x1, x2, x3, ... with
corresponding probabilities p(x1), p(x2), p(x3),..... The mean or expected value of X is
defined by E(X) = sum xk p(xk).
symbolized as E(X)
Formulas:..
E(X)=∑xipi
E(X)=∑xipi
Xi , xi= value of the ith outcome
Pi , pi = probability of the ith outcome
Example:
The staff of the department of mathematics and statistics at university of agriculture
Faisalabad reckon that the number of microcomputers getting out of order in a year is well
approximated by the following probability distribution
No. out of
order: y
0 1 2 3
4
Probability,
P(y)
0.3 0.3 0.2 0.1
0.1
Sol:
Expected value= E(Y)= ∑yP(y)
Thus
µ=∑yP(y)=1.4
y P(y) yP(y)
0 0.3 0
1 0.3 0.3
2 0.2 0.4
3 0.1 0.3
4 0.1 0.4
∑yP(y) 1.4

More Related Content

What's hot

Introduction to Probability and Probability Distributions
Introduction to Probability and Probability DistributionsIntroduction to Probability and Probability Distributions
Introduction to Probability and Probability Distributions
Jezhabeth Villegas
 
Chapter 2 part3-Least-Squares Regression
Chapter 2 part3-Least-Squares RegressionChapter 2 part3-Least-Squares Regression
Chapter 2 part3-Least-Squares Regression
nszakir
 
Binomial probability distribution
Binomial probability distributionBinomial probability distribution
Binomial probability distribution
hamza munir
 
Random Variable
Random VariableRandom Variable
4.5. logistic regression
4.5. logistic regression4.5. logistic regression
4.5. logistic regression
A M
 
Geometric Distribution
Geometric DistributionGeometric Distribution
Geometric Distribution
Ratul Basak
 
Simple linear regression
Simple linear regressionSimple linear regression
Simple linear regression
Maria Theresa
 
Chapter7
Chapter7Chapter7
Discrete probability distributions
Discrete probability distributionsDiscrete probability distributions
Discrete probability distributions
Habibullah Bahar University College
 
Simple linear regression
Simple linear regressionSimple linear regression
Simple linear regression
Avjinder (Avi) Kaler
 
Normal as Approximation to Binomial
Normal as Approximation to Binomial  Normal as Approximation to Binomial
Normal as Approximation to Binomial
Long Beach City College
 
Bernoullis Random Variables And Binomial Distribution
Bernoullis Random Variables And Binomial DistributionBernoullis Random Variables And Binomial Distribution
Bernoullis Random Variables And Binomial Distribution
mathscontent
 
Basic concepts of probability
Basic concepts of probabilityBasic concepts of probability
Basic concepts of probability
Avjinder (Avi) Kaler
 
Complements and Conditional Probability, and Bayes' Theorem
 Complements and Conditional Probability, and Bayes' Theorem Complements and Conditional Probability, and Bayes' Theorem
Complements and Conditional Probability, and Bayes' Theorem
Long Beach City College
 
Probability Distributions for Discrete Variables
Probability Distributions for Discrete VariablesProbability Distributions for Discrete Variables
Probability Distributions for Discrete Variables
getyourcheaton
 
Conditional Probability
Conditional ProbabilityConditional Probability
Conditional Probability
Maria Romina Angustia
 
The binomial distributions
The binomial distributionsThe binomial distributions
The binomial distributions
maamir farooq
 
Hypergeometric probability distribution
Hypergeometric probability distributionHypergeometric probability distribution
Hypergeometric probability distribution
Nadeem Uddin
 
Regression analysis by Muthama JM
Regression analysis by Muthama JMRegression analysis by Muthama JM
Regression analysis by Muthama JM
Japheth Muthama
 
Discrete Random Variables And Probability Distributions
Discrete Random Variables And Probability DistributionsDiscrete Random Variables And Probability Distributions
Discrete Random Variables And Probability Distributions
mathscontent
 

What's hot (20)

Introduction to Probability and Probability Distributions
Introduction to Probability and Probability DistributionsIntroduction to Probability and Probability Distributions
Introduction to Probability and Probability Distributions
 
Chapter 2 part3-Least-Squares Regression
Chapter 2 part3-Least-Squares RegressionChapter 2 part3-Least-Squares Regression
Chapter 2 part3-Least-Squares Regression
 
Binomial probability distribution
Binomial probability distributionBinomial probability distribution
Binomial probability distribution
 
Random Variable
Random VariableRandom Variable
Random Variable
 
4.5. logistic regression
4.5. logistic regression4.5. logistic regression
4.5. logistic regression
 
Geometric Distribution
Geometric DistributionGeometric Distribution
Geometric Distribution
 
Simple linear regression
Simple linear regressionSimple linear regression
Simple linear regression
 
Chapter7
Chapter7Chapter7
Chapter7
 
Discrete probability distributions
Discrete probability distributionsDiscrete probability distributions
Discrete probability distributions
 
Simple linear regression
Simple linear regressionSimple linear regression
Simple linear regression
 
Normal as Approximation to Binomial
Normal as Approximation to Binomial  Normal as Approximation to Binomial
Normal as Approximation to Binomial
 
Bernoullis Random Variables And Binomial Distribution
Bernoullis Random Variables And Binomial DistributionBernoullis Random Variables And Binomial Distribution
Bernoullis Random Variables And Binomial Distribution
 
Basic concepts of probability
Basic concepts of probabilityBasic concepts of probability
Basic concepts of probability
 
Complements and Conditional Probability, and Bayes' Theorem
 Complements and Conditional Probability, and Bayes' Theorem Complements and Conditional Probability, and Bayes' Theorem
Complements and Conditional Probability, and Bayes' Theorem
 
Probability Distributions for Discrete Variables
Probability Distributions for Discrete VariablesProbability Distributions for Discrete Variables
Probability Distributions for Discrete Variables
 
Conditional Probability
Conditional ProbabilityConditional Probability
Conditional Probability
 
The binomial distributions
The binomial distributionsThe binomial distributions
The binomial distributions
 
Hypergeometric probability distribution
Hypergeometric probability distributionHypergeometric probability distribution
Hypergeometric probability distribution
 
Regression analysis by Muthama JM
Regression analysis by Muthama JMRegression analysis by Muthama JM
Regression analysis by Muthama JM
 
Discrete Random Variables And Probability Distributions
Discrete Random Variables And Probability DistributionsDiscrete Random Variables And Probability Distributions
Discrete Random Variables And Probability Distributions
 

More from Afrasiyab Haider

How to know value of a company
How to know value of a companyHow to know value of a company
How to know value of a company
Afrasiyab Haider
 
Providing feedback for effective listening
Providing feedback for effective listeningProviding feedback for effective listening
Providing feedback for effective listening
Afrasiyab Haider
 
Rectification of errors (Financial Accounting)
Rectification of errors (Financial Accounting)Rectification of errors (Financial Accounting)
Rectification of errors (Financial Accounting)
Afrasiyab Haider
 
Octal to binary and octal to hexa decimal conversions
Octal to binary and octal to hexa decimal conversionsOctal to binary and octal to hexa decimal conversions
Octal to binary and octal to hexa decimal conversions
Afrasiyab Haider
 
RUP - Rational Unified Process
RUP - Rational Unified ProcessRUP - Rational Unified Process
RUP - Rational Unified Process
Afrasiyab Haider
 
Normalization in Database
Normalization in DatabaseNormalization in Database
Normalization in Database
Afrasiyab Haider
 
Facts finding techniques in Database
Facts finding techniques in Database Facts finding techniques in Database
Facts finding techniques in Database
Afrasiyab Haider
 
File organization in database
File organization in databaseFile organization in database
File organization in database
Afrasiyab Haider
 
Software development life cycle
Software development life cycleSoftware development life cycle
Software development life cycle
Afrasiyab Haider
 
Expected value of random variables
Expected value of random variablesExpected value of random variables
Expected value of random variables
Afrasiyab Haider
 
Class diagram of school management system (OOP)
Class diagram of school management system (OOP)Class diagram of school management system (OOP)
Class diagram of school management system (OOP)
Afrasiyab Haider
 
What is difference between dbms and rdbms
What is difference between dbms and rdbmsWhat is difference between dbms and rdbms
What is difference between dbms and rdbms
Afrasiyab Haider
 
Database development life cycle
Database development life cycleDatabase development life cycle
Database development life cycle
Afrasiyab Haider
 
Relation of psychology and IT
Relation of psychology and ITRelation of psychology and IT
Relation of psychology and IT
Afrasiyab Haider
 
What is Psychology and variables in psychology?
What is Psychology and variables in psychology?What is Psychology and variables in psychology?
What is Psychology and variables in psychology?
Afrasiyab Haider
 
History of operating systems
History of operating systemsHistory of operating systems
History of operating systems
Afrasiyab Haider
 
File organization in database
File organization in databaseFile organization in database
File organization in database
Afrasiyab Haider
 
Should prisoners be allowed to cast vote?
Should prisoners be allowed to cast vote?Should prisoners be allowed to cast vote?
Should prisoners be allowed to cast vote?
Afrasiyab Haider
 
Politics and martial law in pakistan
Politics and martial law in pakistanPolitics and martial law in pakistan
Politics and martial law in pakistan
Afrasiyab Haider
 
Html and its tags
Html and its tagsHtml and its tags
Html and its tags
Afrasiyab Haider
 

More from Afrasiyab Haider (20)

How to know value of a company
How to know value of a companyHow to know value of a company
How to know value of a company
 
Providing feedback for effective listening
Providing feedback for effective listeningProviding feedback for effective listening
Providing feedback for effective listening
 
Rectification of errors (Financial Accounting)
Rectification of errors (Financial Accounting)Rectification of errors (Financial Accounting)
Rectification of errors (Financial Accounting)
 
Octal to binary and octal to hexa decimal conversions
Octal to binary and octal to hexa decimal conversionsOctal to binary and octal to hexa decimal conversions
Octal to binary and octal to hexa decimal conversions
 
RUP - Rational Unified Process
RUP - Rational Unified ProcessRUP - Rational Unified Process
RUP - Rational Unified Process
 
Normalization in Database
Normalization in DatabaseNormalization in Database
Normalization in Database
 
Facts finding techniques in Database
Facts finding techniques in Database Facts finding techniques in Database
Facts finding techniques in Database
 
File organization in database
File organization in databaseFile organization in database
File organization in database
 
Software development life cycle
Software development life cycleSoftware development life cycle
Software development life cycle
 
Expected value of random variables
Expected value of random variablesExpected value of random variables
Expected value of random variables
 
Class diagram of school management system (OOP)
Class diagram of school management system (OOP)Class diagram of school management system (OOP)
Class diagram of school management system (OOP)
 
What is difference between dbms and rdbms
What is difference between dbms and rdbmsWhat is difference between dbms and rdbms
What is difference between dbms and rdbms
 
Database development life cycle
Database development life cycleDatabase development life cycle
Database development life cycle
 
Relation of psychology and IT
Relation of psychology and ITRelation of psychology and IT
Relation of psychology and IT
 
What is Psychology and variables in psychology?
What is Psychology and variables in psychology?What is Psychology and variables in psychology?
What is Psychology and variables in psychology?
 
History of operating systems
History of operating systemsHistory of operating systems
History of operating systems
 
File organization in database
File organization in databaseFile organization in database
File organization in database
 
Should prisoners be allowed to cast vote?
Should prisoners be allowed to cast vote?Should prisoners be allowed to cast vote?
Should prisoners be allowed to cast vote?
 
Politics and martial law in pakistan
Politics and martial law in pakistanPolitics and martial law in pakistan
Politics and martial law in pakistan
 
Html and its tags
Html and its tagsHtml and its tags
Html and its tags
 

Recently uploaded

International Sustainability Standards Board
International Sustainability Standards BoardInternational Sustainability Standards Board
International Sustainability Standards Board
Kumar Ramaiah
 
South Dakota State University degree offer diploma Transcript
South Dakota State University degree offer diploma TranscriptSouth Dakota State University degree offer diploma Transcript
South Dakota State University degree offer diploma Transcript
ynfqplhm
 
The Impact of Generative AI and 4th Industrial Revolution
The Impact of Generative AI and 4th Industrial RevolutionThe Impact of Generative AI and 4th Industrial Revolution
The Impact of Generative AI and 4th Industrial Revolution
Paolo Maresca
 
一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理
一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理
一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理
asukqco
 
欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】
brunasordi905
 
Detailed power point presentation on compound interest and how it is calculated
Detailed power point presentation on compound interest  and how it is calculatedDetailed power point presentation on compound interest  and how it is calculated
Detailed power point presentation on compound interest and how it is calculated
KishanChaudhary23
 
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
Neil Day
 
Fabular Frames and the Four Ratio Problem
Fabular Frames and the Four Ratio ProblemFabular Frames and the Four Ratio Problem
Fabular Frames and the Four Ratio Problem
Majid Iqbal
 
Independent Study - College of Wooster Research (2023-2024)
Independent Study - College of Wooster Research (2023-2024)Independent Study - College of Wooster Research (2023-2024)
Independent Study - College of Wooster Research (2023-2024)
AntoniaOwensDetwiler
 
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
28xo7hf
 
Money20/20 and EU Networking Event of 20/24!
Money20/20 and EU Networking Event of 20/24!Money20/20 and EU Networking Event of 20/24!
Money20/20 and EU Networking Event of 20/24!
FinTech Belgium
 
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...
Labour Market Information Council | Conseil de l’information sur le marché du travail
 
University of North Carolina at Charlotte degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma TranscriptUniversity of North Carolina at Charlotte degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma Transcript
tscdzuip
 
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
yeuwffu
 
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
bresciafarid233
 
Importance of community participation in development projects.pdf
Importance of community participation in development projects.pdfImportance of community participation in development projects.pdf
Importance of community participation in development projects.pdf
krisretro1
 
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...
Donc Test
 
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
vpqasyb
 
Discover the Future of Dogecoin with Our Comprehensive Guidance
Discover the Future of Dogecoin with Our Comprehensive GuidanceDiscover the Future of Dogecoin with Our Comprehensive Guidance
Discover the Future of Dogecoin with Our Comprehensive Guidance
36 Crypto
 
Dr. Alyce Su Cover Story - China's Investment Leader
Dr. Alyce Su Cover Story - China's Investment LeaderDr. Alyce Su Cover Story - China's Investment Leader
Dr. Alyce Su Cover Story - China's Investment Leader
msthrill
 

Recently uploaded (20)

International Sustainability Standards Board
International Sustainability Standards BoardInternational Sustainability Standards Board
International Sustainability Standards Board
 
South Dakota State University degree offer diploma Transcript
South Dakota State University degree offer diploma TranscriptSouth Dakota State University degree offer diploma Transcript
South Dakota State University degree offer diploma Transcript
 
The Impact of Generative AI and 4th Industrial Revolution
The Impact of Generative AI and 4th Industrial RevolutionThe Impact of Generative AI and 4th Industrial Revolution
The Impact of Generative AI and 4th Industrial Revolution
 
一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理
一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理
一比一原版(cwu毕业证书)美国中央华盛顿大学毕业证如何办理
 
欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】
欧洲杯投注-欧洲杯投注买球-欧洲杯投注买球网|【​网址​🎉ac22.net🎉​】
 
Detailed power point presentation on compound interest and how it is calculated
Detailed power point presentation on compound interest  and how it is calculatedDetailed power point presentation on compound interest  and how it is calculated
Detailed power point presentation on compound interest and how it is calculated
 
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
BIHC Briefing June 2024 from Bank+Insurance Hybrid Capital in association wit...
 
Fabular Frames and the Four Ratio Problem
Fabular Frames and the Four Ratio ProblemFabular Frames and the Four Ratio Problem
Fabular Frames and the Four Ratio Problem
 
Independent Study - College of Wooster Research (2023-2024)
Independent Study - College of Wooster Research (2023-2024)Independent Study - College of Wooster Research (2023-2024)
Independent Study - College of Wooster Research (2023-2024)
 
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
 
Money20/20 and EU Networking Event of 20/24!
Money20/20 and EU Networking Event of 20/24!Money20/20 and EU Networking Event of 20/24!
Money20/20 and EU Networking Event of 20/24!
 
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...
 
University of North Carolina at Charlotte degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma TranscriptUniversity of North Carolina at Charlotte degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma Transcript
 
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
 
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
 
Importance of community participation in development projects.pdf
Importance of community participation in development projects.pdfImportance of community participation in development projects.pdf
Importance of community participation in development projects.pdf
 
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...
 
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
 
Discover the Future of Dogecoin with Our Comprehensive Guidance
Discover the Future of Dogecoin with Our Comprehensive GuidanceDiscover the Future of Dogecoin with Our Comprehensive Guidance
Discover the Future of Dogecoin with Our Comprehensive Guidance
 
Dr. Alyce Su Cover Story - China's Investment Leader
Dr. Alyce Su Cover Story - China's Investment LeaderDr. Alyce Su Cover Story - China's Investment Leader
Dr. Alyce Su Cover Story - China's Investment Leader
 

Expected value of random variables

  • 1. EXPECTED VALUE OF RANDOM VARIABLES Statistics and Probability JANUARY 16, 2017 Submitted by: Afrasiyab Haider Roll#: 16-ARID-02 FROM: BS-IT 2nd Submitted to: Ma’am Maryam Ashfaq
  • 2. 1 Expected value of Random variables Afrasiyab Haider|16-ARID-02 Def: A random variable, X, is a numerical measure of the outcomes of an experiment. Let X be a random variable assuming the values x1, x2, x3, ... with corresponding probabilities p(x1), p(x2), p(x3),..... The mean or expected value of X is defined by E(X) = sum xk p(xk). symbolized as E(X) Formulas:.. E(X)=∑xipi E(X)=∑xipi Xi , xi= value of the ith outcome Pi , pi = probability of the ith outcome Example: The staff of the department of mathematics and statistics at university of agriculture Faisalabad reckon that the number of microcomputers getting out of order in a year is well approximated by the following probability distribution No. out of order: y 0 1 2 3 4 Probability, P(y) 0.3 0.3 0.2 0.1 0.1 Sol: Expected value= E(Y)= ∑yP(y) Thus µ=∑yP(y)=1.4 y P(y) yP(y) 0 0.3 0 1 0.3 0.3 2 0.2 0.4 3 0.1 0.3 4 0.1 0.4 ∑yP(y) 1.4