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How do you calculate expected value for a probability situation?
Wiki User
∙ 12y ago
simulate 100 events where 12 students have been accepted and each student is 66% likely to accept. andministrators want to try to ubderstand how many students will attend the school
Wiki User
∙ 12y ago
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What is the expected value of this distribution if the probability of success on a single trail is 0.5?
This is the answer.
How is the expected value of a normal distribution computed?
If a random variable X is distributed normally with probability distribution function p(x), then the expected value of X is E(X) = integral of x*p(x)dx evaluated over the whole of the real line.
What does it mean if you get a negative number when you calculate for percent error?
Depending on whether you subtract actual value from expected value or other way around, a positive or negative percent error, will tell you on which side of the expected value that your actual value is. For example, suppose your expected value is 24, and your actual value is 24.3 then if you do the following calculation to figure percent error:[percent error] = (actual value - expected value)/(actual value) - 1 --> then convert to percent.So you have (24.3 - 24)/24 -1 = .0125 --> 1.25%, which tells me the actual is higher than the expected. If instead, you subtracted the actual from the expected, then you would get a negative 1.25%, but your actual is still greater than the expected. My preference is to subtract the expected from the actual. That way a positive error tells you the actual is greater than expected, and a negative percent error tells you that the actual is less than the expected.
What is the meaning of random variable in probability distribution?
It is a variable that can take a number of different values. The probability that it takes a value in any given range is determined by a random process and the value of that probability is given by the probability distribution function.It is a variable that can take a number of different values. The probability that it takes a value in any given range is determined by a random process and the value of that probability is given by the probability distribution function.It is a variable that can take a number of different values. The probability that it takes a value in any given range is determined by a random process and the value of that probability is given by the probability distribution function.It is a variable that can take a number of different values. The probability that it takes a value in any given range is determined by a random process and the value of that probability is given by the probability distribution function.
What is The smallest value for a probability?
Zero is the smallest probability.
What is the meaning of expected value in a probability distribution?
The expected value is the average of a probability distribution. It is the value that can be expected to occur on the average, in the long run.
The expected value is what kind of aspect of how probability distribution is characterized?
Expected value is the outcome of confidence of how probability distribution is characterized. If the expected value is greater than the confidence interval then the results are significant.
What is the expected value of this distribution if the probability of success on a single trail is 0.5?
This is the answer.
Can the expected value of a discrete probability distribution be negative?
Yes it can be negative.
An expression of the risk associated with a hazard that combines its severity and probability into a single Arabic numeral which can be used to help determine hazard abatement priorities.?
The combination (product, actually) of a probability and the associated benefit (or cost) of a certain situation is called the "mathematical expectation", "expectation value", or "expected value".
What is The mean of a discrete probability distribution is also called the?
The mean of a discrete probability distribution is also called the Expected Value.
Consider a binomial distribution with 10 trials What is the expected value of this distribution if the probability of success on a single trial is 0.5?
Consider a binomial distribution with 10 trials What is the expected value of this distribution if the probability of success on a single trial is 0.5?
An expression of the risk associated with a hazard that combines its severity and probability into a single Arabic numeral which can be used to help determine hazard abatement priorities?
The combination (product, actually) of a probability and the associated benefit (or cost) of a certain situation is called the "mathematical expectation", "expectation value", or "expected value".
What shows the skewness of a probability distribution?
The third moment. That is, the expected value of the cubes of the deviations from the mean.
Another name for the mean of a probability distribution is its expected value true or false?
Yes, it is true.
Distinguish between mean deviation and standard deviation?
The mean deviation for any distribution is always 0 and so conveys no information whatsoever. The standard deviation is the square root of the variance. The variance of a set of values is the sum of the probability of each value multiplied by the square of its difference from the mean for the set. A simpler way to calculate the variance is Expected value of squares - Square of Expected value.
How do you calculate the expected value when you know the standard deviation?
You cannot; there is insufficient information.
