Consider the given probability distribution. What is the mean or expected value of the probability distribution? Express your answer into 2 decimal places (example: 25.00)
(x, 0, 1, 2, 3, 4, 5)
(p(x) 0.003, 0.0045, 0.45, 0.34, 0.54, 0.55, 0.262)
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Answer:
To find the mean or expected value of a probability distribution, you multiply each value by its corresponding probability and then sum them up.
The calculations are as follows:
(0)(0.003) + (1)(0.0045) + (2)(0.45) + (3)(0.34) + (4)(0.54) + (5)(0.55) = 0 + 0.0045 + 0.9 + 1.02 + 2.16 + 2.75 = 6.89
Therefore, the mean or expected value of the probability distribution is 6.89 (rounded to two decimal places).