Mean

Question 1

Mean of a Discrete Random Variable

Answer 1

a. The central value or the average of its possible values in relation to its corresponding probability.
b. Also known as expected value or mathematical expectation.
c Can be considered as a numerical summary of a quantitative data set.

Question 2

Mean Formula

Answer 2

µ = ∑X • P(X)

Question 3

Steps to Get the Mean

Answer 3

a. Construct the probability distribution for the random variable X representing the number of possible outcomes.
b. Multiply the number of the random variable X by the corresponding probability.
c. Add the results obtained to get the mean.