Master In Business Administration

Business Statistics MCQs

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Expected Value and Variance MCQ with Answers

Expected Value and Variance Multiple Choice Questions (MCQ) to solve expected value and variance quiz answers PDF worksheet, business statistics test for online courses. Practice probability distributions Multiple Choice Questions and Answers (MCQs), "Expected Value and Variance" quiz questions and answers for BS degree in business administration. Learn binomial distribution, standard normal probability distribution, discrete probability distributions test prep for online college classes.

"The value which is obtained by multiplying the possible values of random variable with the probability of occurrence and is equal to weighted average is called" Multiple Choice Questions (MCQ) on expected value and variance with choices discrete value, weighted value, expected value, and cumulative value for BS degree in business administration. Solve expected value and variance quiz questions for merit scholarship test and certificate programs for online degrees.

MCQs on Expected Value and Variance

1.

The value which is obtained by multiplying the possible values of random variable with the probability of occurrence and is equal to weighted average is called

discrete value
weighted value
expected value
cumulative value

2.

The demand of products per day for three days are 21, 19, 22 units and their respective probabilities are 0.29, 0.40, 0.35. The profit per unit is $0.50 then the expected profits for three days are

21, 19, 22
21.5, 19.5, 22.5
0.29, 0.40, 0.35
3.045, 3.8, 3.85

3.

The probability which explains x is equal to or less than particular value is classified as

discrete probability
cumulative probability
marginal probability
continuous probability

4.

The selling price of product is subtracted from purchasing price of product to calculate

profit of product
loss of profit
cumulative average
weighted average

5.

The number of units multiply profit per unit multiply probability to calculate

discrete profit
expected profit
weighted profit
continuous profit