Supposed to 25% of the time Danny eat out twice a month 30% of the time he eats out once a month and 45% of the time he doesn’t eat out at all in a given month what is the expected value for the number of times daily eats out during a month
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Answer
Expected value = 0.8 times per month
Explanation
The mean of the probability distribution is called expected value and it is given as
E(X) = Σxᵢpᵢ
where
xᵢ = each variable = Number of times Danny eats out
pᵢ = probability of each variable
n = number of variables
p = probability of one variable
We need to set up the probability distribution first
xᵢ | pᵢ
2 | 0.25
1 | 0.30
0 | 0.45
E(X)
= (2 × 0.25) + (1 × 0.30) + (0 × 0.45)
= 0.5 + 0.3 + 0
= 0.8
Hope this Helps!!!