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Expected Value and Variance MCQ with Answers PDF

Expected Value and Variance Multiple Choice Questions (MCQ), Expected Value and Variance quiz answers PDF with business statistics career tests for online courses. Practice probability distributions Multiple Choice Questions and Answers (MCQs), Expected Value and Variance quiz questions for BS degree in business administration. Expected Value and Variance Interview Questions PDF: 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" MCQ PDF on expected value and variance with choices discrete value, weighted value, expected value, and cumulative value for BS degree in business administration. Practice expected value and variance quiz questions for merit scholarship test and certificate programs for online degrees.

MCQs on Expected Value and Variance Quiz

MCQ: 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

MCQ: 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

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

discrete probability
cumulative probability
marginal probability
continuous probability

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

profit of product
loss of profit
cumulative average
weighted average

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

discrete profit
expected profit
weighted profit
continuous profit