SOLUTION: Give the mean of the following probability distribution? 1 0.20 2 0.10 3 0.35 4 0.05 5 0.30

Question 782231: Give the mean of the following probability distribution?
1 0.20
2 0.10
3 0.35
4 0.05
5 0.30

Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
Mean or Expected Value:

E[X] = Sum( P(X = xi) * xi )

E[X] = [P(X = x1)*(x1)] + [P(X = x2)*(x2)] + [P(X = x3)*(x3)] + [P(X = x4)*(x4)] + [P(X = x5)*(x5)]

E[X] = [P(X = 1)*(1)] + [P(X = 2)*(2)] + [P(X = 3)*(3)] + [P(X = 4)*(4)] + [P(X = 5)*(5)]

E[X] = [0.20*(1)] + [0.10*(2)] + [0.35*(3)] + [0.05*(4)] + [0.30*(5)]

E[X] = 0.20*(1) + 0.10*(2) + 0.35*(3) + 0.05*(4) + 0.30*(5)

E[X] = 0.2 + 0.2 + 1.05 + 0.2 + 1.5

E[X] = 3.15

Final Answer: 3.15
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