Tags
Question
Given 3 probabilities to weight an expected value, which one of the outcomes wil happen?
none of the outcomes actually produces the amount expected

Tags
Question
Given 3 probabilities to weight an expected value, which one of the outcomes wil happen?
?

Tags
Question
Given 3 probabilities to weight an expected value, which one of the outcomes wil happen?
none of the outcomes actually produces the amount expected
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Subject 6. Expected Value, Variance, and Standard Deviation of a Random Variable
40,000 + 24,000 + 0 = $64,000 Thus, the organizers can expect to take in$64,000. Since it costs $50,000 to stage the event, this translates to a profit of$14,000, so they should certainly go ahead with the venture. <span>It's important to realize that none of the outcomes actually produces an amount of \$64,000. This is simply the weighted average of all possible outcomes. Although there is a 50% chance of a loss the big profit that will be made the remaining 50% of the time more than offsets t

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